New Jersey Statutes
§ 17B:17-3 — Life insurance defined
New Jersey·Title 17B INSURANCE
"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 giving a special surrender value or special benefit or an annuity in the event that the insured shall become totally and permanently disabled, whether such provisions are incorporated in a policy or contract of life insurance or in a policy or contract supplemental thereto. Life insurance does not include workme
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Nearby Sections
15
§ 17B:17-1
Scope of act§ 17B:17-10
Principal office defined§ 17B:17-12
Certificate of authority; license defined§ 17B:17-12.1
Change of domicile for insurers§ 17B:17-13
Misdemeanor to do business unless authorized§ 17B:17-13.1
Charitable annuities.§ 17B:17-14
General penalty§ 17B:17-15
Conflict with other laws§ 17B:17-16
Separability of provisions§ 17B:17-17
Short title§ 17B:17-18
Purpose§ 17B:17-19
Definitions§ 17B:17-2
Insurer defined§ 17B:17-20
Application of act; exclusions