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New Jersey Life Insurance Quotes
Best Life Insurance Rates in the Garden State
The state of New Jersey is known as the Garden State and is famous for it’s boardwalks in the shore and beach towns such as Atlantic City where gambling and snacks are a plenty. New Jersey held the first ever baseball game and the first college football game! The state has a comparably low rate for gun deaths and the lowest suicide rate in the United States.
The people who reside in the state of New Jersey should educate themselves on life insurance, the way it works, what’s available and what are the state’s specific rules and regulations. Knowledge is power and the residents in New Jersey should most certainly consider purchasing life insurance from a top company like American Insurance to protect their loved ones financially once they pass away.
Three Important Life Insurance Rules in New Jersey
There are many life insurance laws in the state of New Jersey to protect customers of life insurance in the state but the three that pop out are: Free look period, Payment grace period, and Timely claim payments.
Under the free look period, people who reside in NJ receive ten days to return a purchased life insurance policy without strings attached. You will be able to get a full refund. The free look period allows customers of life insurance to really make sure they are happy with their policy.
The payment grace period allows residents a 30-day grace period if they are late on a payment with their life insurance policy. These 30 days allow NJ residents to make up for a missed payment without cancellation.
If a NJ resident life insurance beneficiary should make a claim, life insurance companies are required to process the payment as soon as possible. This is under the timely claim payments. Under New Jersey state code, insurers must pay claims within two months of receiving paperwork proving death of the policyholder.
For more details about rules and regulations on life insurance in New Jersey, reach out to the New Jersey Department of Banking and Insurance.
Tips on Receiving Affordable Life Insurance Premiums
One big thing about New Jersey life insurance is that you can receive a cheaper cost just by being physically active. Working out can save you big because it shows that you are committed to a healthy lifestyle.
Other ways to get cheaper rates are to not smoke or quit smoking, stop taking part in risky activities such as skydiving or white water rafting, and maintain a healthy weight. Also, the younger you are the cheaper your life insurance policy will be because life insurance providers look at age as a risk and the older you are the more you are a risk of having to get a claim factored in.
You should also request New Jersey Life Insurance Quotes from American insurance companies in New Jersey. You can receive life insurance policy quotes for free from life insurance companies online or through the phone.
Speak with an educated life insurance trained agent to get the best information about what best suits you and your family’s needs.