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  • NJ A1064
  • Requires notice prior to lapse of life insurance policy due to nonpayment of premium.
Introduced
(1/27/2016)
In Committee
(1/27/2016)
Crossed OverPassedSignedDead/Failed/Vetoed
2016-2017 Regular Session
This bill requires an insurer to provide notice to the holder of an individual life insurance policy, and any producer of record on that policy, that the policy will lapse due to nonpayment of premium. The notice must be provided to the holder and any producer of record at least 10 days prior to the lapse of the policy and shall be accomplished by regular mail, electronic mail, and telephone to the holder of the life insurance policy and any producer of record, as appropriate, based on information provided by the insured and the producer and on record with the insurer. The notice required by the bill shall be in addition to any other notice concerning nonpayment of premium or lapse of the life insurance policy required under the terms of the policy.
Financial Institutions and Insurance
Introduced, Referred to Assembly Financial Institutions and Insurance Committee  (on 1/27/2016)
 
 
Date Chamber Action Description
1/27/2016 A Introduced, Referred to Assembly Financial Institutions and Insurance Committee
Date Motion Yea Nay Other
None specified