New Jersey § 17B:24-5 Payment discharges insurer

New Jersey Statutes

§ 17B:24-5 — Payment discharges insurer

New Jersey § 17B:24-5

Title 17BINSURANCE

This text of New Jersey § 17B:24-5 (Payment discharges insurer) is published on Counsel Stack Legal Research, covering New Jersey primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.J. Stat. Ann. § 17B:24-5 (2026).

Text

Whenever the proceeds of or payments under a life or health insurance policy or annuity contract heretofore or hereafter issued become payable in accordance with the terms of such policy or contract, or the exercise of any right or privilege thereunder, payment thereof by the insurer in accordance therewith or in accordance with any written assignment thereof shall fully discharge the insurer from all claims under the policy or contract. L.1971, c. 144, s. 17B:24-5.

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Whenever the proceeds of or payments under a life or health insurance policy or annuity contract heretofore or hereafter issued become payable in accordance with the terms of such policy or contract, or the exercise of any right or privilege thereunder, payment thereof by the insurer in accordance therewith or in accordance with any written assignment thereof shall fully discharge the insurer from all claims under the policy or contract. L.1971, c. 144, s. 17B:24-5.