New Jersey § 17B:27E-8 Conditions for delivery, issuance of policy

New Jersey Statutes

§ 17B:27E-8 — Conditions for delivery, issuance of policy

New Jersey § 17B:27E-8

Title 17BINSURANCE

This text of New Jersey § 17B:27E-8 (Conditions for delivery, issuance of policy) 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:27E-8 (2026).

Text

8.

a.Except as provided in subsection b. of this section, a long-term care insurance policy shall not be delivered or issued for delivery in this State unless the policyholder or certificate holder has been offered the option of purchasing a policy or certificate including a nonforfeiture benefit. The offer of a nonforfeiture benefit may be in the form of a rider that is attached to the policy. If the policyholder or certificate holder declines the nonforfeiture benefit, the insurer shall provide a contingent benefit upon lapse that shall be available for a specified period of time following a substantial increase in premium rates.

b.When a group long-term care insurance policy is issued, the offer required in subsection a. of this section shall be made to the group policyholder. L.2003,

Free access — add to your briefcase to read the full text and ask questions with AI

8. a. Except as provided in subsection b. of this section, a long-term care insurance policy shall not be delivered or issued for delivery in this State unless the policyholder or certificate holder has been offered the option of purchasing a policy or certificate including a nonforfeiture benefit. The offer of a nonforfeiture benefit may be in the form of a rider that is attached to the policy. If the policyholder or certificate holder declines the nonforfeiture benefit, the insurer shall provide a contingent benefit upon lapse that shall be available for a specified period of time following a substantial increase in premium rates. b. When a group long-term care insurance policy is issued, the offer required in subsection a. of this section shall be made to the group policyholder. L.2003,c.207,s.8.