New Jersey Insurance Law & Code
This chapter covers the New Jersey statutes that protect policyowners and govern how policies are sold and serviced. It addresses the structure of the state code, required policy protections such as the free-look period, replacement rules, the guaranty association, and the grounds on which the regulator may discipline a license.
The New Jersey Insurance Code
The substantive rules come from the New Jersey insurance statutes (Titles 17 and 17B of the New Jersey Statutes), supplemented by administrative regulations. These provisions define who may transact insurance in the state, the required and prohibited policy provisions, and the enforcement powers of the regulator. They are the New Jersey-specific overlay on the national policy rules covered in the shared base material.
Free-Look and Required Policyowner Protections
New Jersey requires life and health policies to include consumer protections such as a free-look (right-to-examine) period, during which the owner may return the policy for a full premium refund if not satisfied. The code also mandates grace periods, required policy provisions, and clear disclosures so consumers understand their coverage and can reconsider a purchase within the review window.
Replacement, the Guaranty Association, and Discipline
When new coverage replaces existing life insurance or annuities, New Jersey replacement rules require notice, fair comparison, and documentation so the consumer is not harmed. The New Jersey Life and Health Insurance Guaranty Association provides a statutory backstop, within dollar limits, if a member insurer becomes insolvent -- but producers may not advertise it to induce a sale. The code also lists grounds -- fraud, misrepresentation, misappropriating premiums, and code violations -- on which the regulator may suspend or revoke a license.
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State-specific details
State exam facts
- State regulator
- New Jersey Department of Banking and Insurance
- Exam vendor
- PSI
- Prelicensing education
- 20 hours per line of authority
- Passing score
- 70%
Who regulates life & health insurance licensing in New Jersey?
The New Jersey Department of Banking and Insurance (DOBI) licenses producers. DOBI contracts with PSI Services to administer the licensing examinations.
Does New Jersey require prelicensing education for the life & health exam?
Yes. New Jersey requires 20 hours of prelicensing education, from a DOBI-approved provider, for each line of authority before you sit for the exam.
How is the New Jersey life & health exam structured?
New Jersey uses two separate PSI exams — a Life Producer exam and an Accident & Health Producer exam — and each requires a 70% passing score.
In the New Jersey Life & Health Insurance Producer Exam guide: A KEY CONCEPT box, a Common Traps list and a Check Yourself set closing each of the 9 national chapters. Practice here stays free.