reglab/housing_qa huggingface dataset:
NJ Rev Stat § 17B:25-2.1 (2021)
2021 New Jersey Revised Statutes|Title 17B - Insurance|Section 17B:25-2.1 - Cancellation of policy within 10 days after receipt

17B:25-2.1. Cancellation of policy within 10 days after receipt  No policy of life insurance, other than group insurance, shall be delivered or issued for delivery in this State unless such policy contains in substance a provision or has attached to it a notice stating that 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 to the insurer together with a written request for cancellation. L.1980, c. 38, s. 1.
NJ Rev Stat § 17B:25-3 (2021)
2021 New Jersey Revised Statutes|Title 17B - Insurance|Section 17B:25-3 - Grace period

17B:25-3. Grace period  There shall be a provision that a grace period of 30 days, or, at the option of the insurer, of 1 month of not less than 30 days, or of 4 weeks in the case of industrial life insurance policies the premiums for which are payable more frequently than monthly, 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 continue in full force; 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. L.1971, c. 144, s. 17B:25-3.
NJ Rev Stat § 17B:25-4 (2021)
2021 New Jersey Revised Statutes|Title 17B - Insurance|Section 17B:25-4 - Incontestability

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, except for nonpayment of premiums, after it has been in force during the lifetime of the insured for a period of 2 years from its date of issue. L.1971, c. 144, s. 17B:25-4.
NJ Rev Stat § 17B:25-5 (2021)
2021 New Jersey Revised Statutes|Title 17B - Insurance|Section 17B:25-5 - Entire contract

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 the absence of fraud, be deemed representations and not warranties. L.1971, c. 144, s. 17B:25-5.
NJ Rev Stat § 17B:25-6 (2021)
2021 New Jersey Revised Statutes|Title 17B - Insurance|Section 17B:25-6 - Misstatement of age

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. L.1971, c. 144, s. 17B:25-6.
NJ Rev Stat § 17B:25-7 (2021)
2021 New Jersey Revised Statutes|Title 17B - Insurance|Section 17B:25-7 - Dividends

17B:25-7. Dividends  a. There shall be a provision in participating policies other than industrial life insurance policies that, beginning not later than the end of the third policy year, the insurer shall annually ascertain and apportion the divisible surplus, if any, that will accrue on the policy anniversary or other dividend date specified in the policy provided the policy is in force and all premiums to that date are paid. Except as hereinafter provided, any dividend credited to the policy shall at the option of the party entitled to elect such option be either: (1) payable in cash, or (2) applied to any one of such other dividend options as may be provided by the policy. 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 less than 30 days following the date on which such dividend is due and payable. The annually apportioned dividend shall be deemed to be payable in cash within the meaning of (1) above even though the policy provides that payment of such dividend is to be deferred for a specified period, provided that such period does not exceed 6 years from the date of apportionment and provided that interest will be added to such dividend at a specified rate. If a participating policy provides that the benefit under any paid-up nonforfeiture provision is to be participating, it may provide that any divisible surplus credited to the policy while the insurance is in force under such nonforfeiture provision shall be applied in the manner set forth in the policy. b. In participating industrial life insurance policies there shall be a provision that, beginning not later than the end of the fifth policy year, the policy shall participate annually in the divisible surplus, if any, in the manner set forth in the policy. L.1971, c. 144, s. 17B:25-7.
NJ Rev Stat § 17B:25-8 (2021)
2021 New Jersey Revised Statutes|Title 17B - Insurance|Section 17B:25-8 - Policy loan

17B:25-8. Policy loan  There shall be a provision that after 3 full years' premiums have been paid and after the policy has a cash surrender value and while no premium is in default beyond the grace period for payment, the insurer will advance, on proper assignment or pledge of the policy and on the sole security thereof, at a specified rate of interest, an amount equal to or, at the option of the party entitled thereto, less than the loan value of the policy. The loan value of the policy shall be at least equal to the cash surrender value at the end of the then current policy year, provided that the insurer may deduct, either from such loan value or from the proceeds of the loan, any existing indebtedness not already deducted in determining such cash surrender value including any interest then accrued but not due, any unpaid balance of the premium for the current policy year, and interest on the loan to the end of the current policy year. The policy may also provide that if interest on any indebtedness is not paid when due it shall then be added to the existing indebtedness and shall bear interest at the same rate, and that if and when the total indebtedness on the policy, including interest due or accrued, equals or exceeds the amount of the loan value thereof, then the policy shall terminate and become void but not until at least 30 days' notice shall have been mailed by the insurer to the last known address of the insured or other policy owner and of any assignee of record at the home office of the insurer. 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. The policy may, at the insurer's option, contain automatic premium loan provisions and may provide that such provisions do not become operative unless so elected by the person entitled to do so. This section shall not apply to term insurance, or to industrial life insurance policies. L.1971, c. 144, s. 17B:25-8.
NJ Rev Stat § 17B:25-9 (2021)
2021 New Jersey Revised Statutes|Title 17B - Insurance|Section 17B:25-9 - Reinstatement

17B:25-9. Reinstatement  There shall be a provision that unless: a. the policy has been surrendered for its cash surrender value, or b. its cash surrender value has been exhausted, or c. the paid-up term insurance, if any, has expired, the policy will be reinstated at any time within 3 years (or 2 years in the case of industrial life insurance policies) from the due date of the first premium in default upon written application therefor, the production of evidence of insurability satisfactory to the insurer, the payment of all premiums in arrears and the payment or reinstatement of any indebtedness to the insurer upon the policy, all with interest at a specified rate and which may be compounded as specified. L.1971, c. 144, s. 17B:25-9.
NJ Rev Stat § 17B:25-10 (2021)
2021 New Jersey Revised Statutes|Title 17B - Insurance|Section 17B:25-10 - Payment of premiums

17B:25-10. Payment of premiums  There shall be a provision relative to the payment of premiums. L.1971, c. 144, s. 17B:25-10.
NJ Rev Stat § 17B:25-10.1 (2021)
2021 New Jersey Revised Statutes|Title 17B - Insurance|Section 17B:25-10.1 - Notice mailed to holders of life insurance policy

17B:25-10.1. Notice mailed to holders of life insurance policy  An insurer shall give written notice by regular mail to the holder of a life insurance policy when, to prevent lapse of the policy, a premium is paid automatically by charging it against the policy's loan value which is derived from the cash value of the policy. The notice shall show the amount of the loan and the loan interest rate. The notice shall be mailed no later than 30 days after the end of the grace period of the premium paid by loan.  L.1991,c.7,s.1.
NJ Rev Stat § 17B:25-12 (2021)
2021 New Jersey Revised Statutes|Title 17B - Insurance|Section 17B:25-12 - Beneficiary; industrial policies

17B:25-12. Beneficiary; industrial policies  An industrial life insurance policy shall have the name of the beneficiary designated thereon, or in the application or other form if attached to the policy, with a reservation of the right to designate or change the beneficiary after the issuance of the policy, unless such beneficiary be irrevocably designated. The policy may also provide that no designation or change of beneficiary shall be binding on the insurer until endorsed on the policy by the insurer, and that the insurer may refuse to endorse the name of any proposed beneficiary who does not appear to the insurer to have an insurable interest in the life of the insured. 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 beneficiary is the estate of the insured, or is a minor, or dies before the insured, or is not legally competent to give a valid release, then the insurer may make any payment thereunder to the executor or administrator of the insured, or to any relative of the insured by blood or legal adoption or connection by marriage, or to any person appearing to the insurer to be equitably entitled thereto by reason of having been named beneficiary, or by reason of having incurred expense for the maintenance, medical attention or burial of the insured. The policy may also include a similar provision applicable to any other payment under the policy. L.1971, c. 144, s. 17B:25-12.
NJ Rev Stat § 17B:25-13 (2021)
2021 New Jersey Revised Statutes|Title 17B - Insurance|Section 17B:25-13 - Nonforfeiture benefits and cash surrender values

17B:25-13. Nonforfeiture benefits and cash surrender values  There shall be a provision for nonforfeiture benefits and cash surrender values in accordance with the requirements of section 17B:25-19. L.1971, c. 144, s. 17B:25-13.
NJ Rev Stat § 17B:25-14 (2021)
2021 New Jersey Revised Statutes|Title 17B - Insurance|Section 17B:25-14 - Title

17B:25-14. Title  There shall be a title on the policy, briefly describing it. L.1971, c. 144, s. 17B:25-14.
NJ Rev Stat § 17B:25-15 (2021)
2021 New Jersey Revised Statutes|Title 17B - Insurance|Section 17B:25-15 - Provision prohibited

17B:25-15. Provision prohibited  No policy of life insurance shall be delivered or issued for delivery in this State which limits the time within which any action may be commenced to less than 5 years after the cause of action accrues. L.1971, c. 144, s. 17B:25-15.
NJ Rev Stat § 17B:25-16 (2021)
2021 New Jersey Revised Statutes|Title 17B - Insurance|Section 17B:25-16 - Excluded or restricted coverage

17B:25-16. Excluded or restricted coverage  A clause in any policy of life insurance providing that such policy shall be incontestable after a specified period shall preclude only a contest of the validity of the policy, and shall not preclude the assertion at any time of defenses based upon provisions in the policy which exclude or restrict coverage, whether or not such restrictions or exclusions are excepted in such clause. L.1971, c. 144, s. 17B:25-16.
NJ Rev Stat § 17B:25-17 (2021)
2021 New Jersey Revised Statutes|Title 17B - Insurance|Section 17B:25-17 - Incontestability; limitation of liability after reinstatement

17B:25-17. Incontestability; limitation of liability after reinstatement  a. 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. b. When any life insurance policy is reinstated, such reinstated policy may exclude or restrict liability to the same extent that such liability could have been excluded or restricted when the policy was originally issued, and such exclusion or restriction shall be effective from the date of reinstatement. L.1971, c. 144, s. 17B:25-17.
NJ Rev Stat § 17B:25-18 (2021)
2021 New Jersey Revised Statutes|Title 17B - Insurance|Section 17B:25-18 - Filing of forms

17B:25-18. Filing of forms  17B:25-18. a. No life insurance policy, or application, if a written application is required and is to be made a part of the policy, or printed rider or endorsement for use with the policy, shall be delivered or issued for delivery in this State unless the form has been filed with the commissioner for approval in accordance with the provisions of section 16 of P.L.1995, c.73 (C.17B:25-18.2). This section shall not apply to policies of group life insurance and applications, printed riders or endorsements for use with such policies.  b. (Deleted by amendment, P.L.1995, c.73.) c. If a form is disapproved by the commissioner during that 60-day period, it may not be delivered or issued for delivery unless it is resubmitted and approved in accordance with the provisions of subsections b., c., and d. of section 16 of P.L.1995, c.73 (C.17B:25-18.2. Such disapproval shall be subject to review in accordance with the procedure described in the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.) and any rules adopted thereunder. Any such form which is filed by the commissioner or deemed filed may be so delivered or issued for delivery until such time as any subsequent withdrawal of the filing by the commissioner, following an opportunity for a hearing held in accordance with the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.) and any rules adopted thereunder, becomes final in accordance therewith.  d. (Deleted by amendment, P.L.1995, c.73.) e. (Deleted by amendment, P.L.1995, c.73.) f. This section shall not apply to documents which relate only to the manner of distribution of benefits or to the reservation of rights and benefits under life insurance policies and which are used at the request of the individual policyholder.  g. The commissioner may exempt from the requirements of this section for so long as he deems proper any insurance document or form or type thereof to which, in his opinion, this section may not practicably be applied, or the filing of which is, in his opinion, not desirable or necessary for the protection of the public.  h. The disapproval by the commissioner of any such form may be on the ground that the form contains provisions which are unjust, unfair, inequitable, misleading, contrary to law or to the public policy of this State.  L.1971, c.144; amended 1995,c.73,s.18.
NJ Rev Stat § 17B:25-18.1 (2021)
2021 New Jersey Revised Statutes|Title 17B - Insurance|Section 17B:25-18.1 - Life, health insurance policy, contract; compliance

17B:25-18.1. Life, health insurance policy, contract; compliance  15. No life insurance policy, health insurance policy, annuity, or variable contract subject to the provisions of Title 17B of the New Jersey Statutes, or application for that insurance if a written application is required and is to be made a part of that policy or contract, or a printed rider or an endorsement for use with that policy or contract, shall be delivered or issued for delivery in this State unless its provisions comply with all of the applicable requirements of Title 17B of the New Jersey Statutes and any regulations adopted or guidelines published by the Commissioner of Insurance consistent with the requirements thereof. Any policy, contract, application, rider, or endorsement issued or delivered in this State that is not in compliance with that law or regulations or guidelines shall be deemed to be in compliance with the requirements and shall be interpreted by the courts and among the persons affected by the policy or contract as if that policy or contract form were in compliance with the requirements; except that this provision shall not relieve the insurer from any penalty that may be imposed for violation of this act or any other applicable provision of Title 17B of the New Jersey Statutes.  L.1995,c.73,s.15.
NJ Rev Stat § 17B:25-18.5 (2021)
2021 New Jersey Revised Statutes|Title 17B - Insurance|Section 17B:25-18.5 - Certain actions taken by department employees to result in termination.

17B:25-18.5 Certain actions taken by department employees to result in termination.  2. a. An officer or employee of the Department of Banking and Insurance shall not take or threaten any action or omission in retaliation against a person for efforts of that person, or a person acting on his behalf, to secure or enforce any rights under contract, the laws of this State or the laws of the United States, or the good faith complaint of that person, or a person acting on his behalf, to any other government official, officer or employee or other person concerning any actions or omissions of the officer or employee of the department in regard to that person. b. Any officer or employee who violates the provisions of subsection a. of this section shall, after notice and a hearing, be terminated from employment with the State. L.2001,c.237,s.2.
NJ Rev Stat § 17B:25-20.1 (2021)
2021 New Jersey Revised Statutes|Title 17B - Insurance|Section 17B:25-20.1 - Supersedure of standard nonforfeiture law, certain.

17B:25-20.1 Supersedure of standard nonforfeiture law, certain.  13. Effective on the second anniversary of the effective date of the "Indexed Standard Nonforfeiture Law for Individual Deferred Annuities," P.L.2005, c.194 (C.17B:25-21 et al.), the standard nonforfeiture law for individual deferred annuities as provided in section 5 of P.L.1981, c.285 (C.17B:25-20) shall continue to govern a contract of annuity issued pursuant thereto, but shall not apply to, and shall be superseded with respect to, a contract of annuity subject to the provisions of the "Indexed Standard Nonforfeiture Law for Individual Deferred Annuities," P.L.2005, c.194 (C.17B:25-21 et al.) as provided therein. L.2005,c.194,s.13.
NJ Rev Stat § 17B:25-21 (2021)
2021 New Jersey Revised Statutes|Title 17B - Insurance|Section 17B:25-21 - Short title.

17B:25-21 Short title.  1. This act shall be known and may be cited as the "Indexed Standard Nonforfeiture Law for Individual Deferred Annuities." L.2005,c.194,s.1.
NJ Rev Stat § 17B:25-22 (2021)
2021 New Jersey Revised Statutes|Title 17B - Insurance|Section 17B:25-22 - Inapplicability of act.

17B:25-22 Inapplicability of act.  2. This act shall not apply to any reinsurance, group annuity purchased under a retirement plan or plan of deferred compensation established or maintained by an employer (including a partnership or sole proprietorship) or by an employee organization, or by both, other than a plan providing individual retirement accounts or individual retirement annuities under section 408 of the federal Internal Revenue Code of 1986 (26 U.S.C. s.408), as now or hereafter amended, premium deposit fund, variable annuity, investment annuity, immediate annuity, any deferred annuity contract after annuity payments have commenced, or reversionary annuity, nor to any contract which shall be delivered outside this State through an agent or other representative of the company issuing the contract. L.2005,c.194,s.2.
NJ Rev Stat § 17B:25-25 (2021)
2021 New Jersey Revised Statutes|Title 17B - Insurance|Section 17B:25-25 - Paid-up annuity benefit.

17B:25-25 Paid-up annuity benefit.  5. Any paid-up annuity benefit available under a contract shall be such that its present value on the date annuity payments are to commence is at least equal to the minimum nonforfeiture amount on that date. Present value shall be computed using the mortality table, if any, and the interest rates specified in the contract for determining the minimum paid-up annuity benefits guaranteed in the contract. L.2005,c.194,s.5.
NJ Rev Stat § 17B:25-26 (2021)
2021 New Jersey Revised Statutes|Title 17B - Insurance|Section 17B:25-26 - Cash surrender benefits, determination of present value.

17B:25-26 Cash surrender benefits, determination of present value.  6. For contracts that provide cash surrender benefits, the cash surrender benefits available prior to maturity shall not be less than the present value as of the date of surrender of that portion of the maturity value of the paid-up annuity benefit that would be provided under the contract at maturity arising from considerations paid prior to the time of cash surrender, reduced by the amount appropriate to reflect any prior withdrawals from or partial surrenders of the contract, which present value shall be calculated on the basis of an interest rate not more than 1% higher than the interest rate specified in the contract for accumulating the net considerations to determine maturity value, decreased by the amount of any indebtedness to the company on the contract, including interest due and accrued, and increased by any existing additional amounts credited by the company to the contract. In no event shall any cash surrender benefit be less than the minimum nonforfeiture amount at that time. The death benefit under such contracts shall be at least equal to the cash surrender benefit. L.2005,c.194,s.6.
NJ Rev Stat § 17B:25-27 (2021)
2021 New Jersey Revised Statutes|Title 17B - Insurance|Section 17B:25-27 - Determination of present value.

17B:25-27 Determination of present value.  7. For contracts that do not provide cash surrender benefits, the present value of any paid-up annuity benefit available as a nonforfeiture option at any time prior to maturity shall not be less than the present value of that portion of the maturity value of the paid-up annuity benefit provided under the contract arising from considerations paid prior to the time the contract is surrendered in exchange for, or changed to, a deferred paid-up annuity, such present value being calculated for the period prior to the maturity date on the basis of the interest rate specified in the contract for accumulating the net considerations to determine maturity value, and increased by any additional amounts credited by the company to the contract. For contracts that do not provide any death benefits prior to the commencement of any annuity payments, present values shall be calculated on the basis of that interest rate and the mortality table specified in the contract for determining the maturity value of the paid-up annuity benefit. However, in no event shall the present value of a paid-up annuity benefit be less than the minimum nonforfeiture amount at that time. L.2005,c.194,s.7.