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New Jersey Life Insurance [2024]

New Jersey life insurance offers residents a 10-day free look period, a 30-day grace period, and a timely payment of death benefits. This guide includes New Jersey life insurance rates, companies, state contact information, policy information, and more.

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Written by:

Laura Gunn

Insurance and Finance Writer

Laura Gunn is a former teacher who uses her passion for writing and learning to help others make the best decisions regarding finance and insurance. After stepping away from the classroom, Laura used her skills to write across many different industries including insurance, finance, real estate, home improvement, and healthcare. Her experience in various industries has helped develop both her wr...

Insurance and Finance Writer

Reviewed by:

Justin Wright

Licensed Insurance Agent

Justin Wright has been a licensed insurance broker for over 9 years. After graduating from Southeastern Seminary with a Masters in Philosophy, Justin started his career as a professor, teaching Philosophy and Ethics. Later, Justin obtained both his Property & Casualty license and his Life and Health license and began working for State Farm and Allstate. In 2020, Justin began working as an i...

Licensed Insurance Agent

UPDATED: Feb 23, 2024

Advertiser Disclosure

It’s all about you. We want to help you make the right life insurance coverage choices.

Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance company and cannot guarantee quotes from any single company.

Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.

UPDATED: Feb 23, 2024

Advertiser Disclosure

It’s all about you. We want to help you make the right life insurance coverage choices.

Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance company and cannot guarantee quotes from any single company.

Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.

We offer New Jersey residents life insurance from several of the best insurance companies in NJ. Life insurance is very similar from state-to-state, with a few exceptions, so expect your New Jersey life insurance rates to vary.

However, this guide should help you understand the different types of term life insurance and permanent life insurance in New Jersey and find resources in your state. We’ll also show you how to get the best life insurance in New Jersey.

Before we dive into this guide, find affordable New Jersey life insurance rates by clicking on our FREE quote tool above. Get started now.

Table of Contents Toggle How do I get New Jersey life insurance quotes?What are life insurance rates in New Jersey?What is the New Jersey Guaranty Association?What are some New Jersey life insurance resources?Guaranty AssociationInsurance DepartmentWhat are the best New Jersey life insurance companies?Why do I need life insurance?What are the different types of life insurance?Frequently Asked QuestionsHow do I get New Jersey life insurance quotes? What are life insurance rates in New Jersey? What is the New Jersey Guaranty Association? What are some New Jersey life insurance resources? What are the best New Jersey life insurance companies? Read More: The Cost of Life Insurance

Table of Contents

How do I get New Jersey life insurance quotes?

We offer New Jersey residents life insurance from several A-rated life insurance companies. Life insurance is very similar from state-to-state, with a only few exceptions.

This guide should help you understand the differences in New Jersey life insurance and find resources in your state. However, because this centers on New Jersey life insurance, we will not touch on other forms, such as car insurance companies in NJ.

Policy Cost – The premium (cost) you pay for your life insurance policy does not vary by state. It is the same regardless of which state you live in. Premiums are set by life insurance companies and then approved by the State Insurance Department.

Company Availability – Not all companies are available in every state. For example, if a life insurance company has not filed its product or rates with your State Insurance Department, that company won’t be available in your state. Company availability changes often due to new filings.

Product Availability – There are instances where life insurance companies offer only specific products or riders in a state. For example, a company may offer a child insurance rider on their policy, but the feature may not be available in all states. These exclusions can be viewed by clicking on the life insurance companies in the list below.

New Jersey life insurance also offers residents a 10-day free look period, a 30-day grace period, and a timely payment of death benefits. 

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What are life insurance rates in New Jersey?

To give you an idea of what New Jersey life insurance rates look like, check out the chart below to see what the top companies charge based on non-smoking status, age, marital status, and gender.

Remember that your New Jersey life insurance quotes may differ depending on demographics, occupation, habits, family medical history, which New Jersey life insurance policy you choose, and New Jersey life insurance laws.

In this next chart, you can also see how many New Jersey life insurance companies there are compared to other northeastern states.

Note that New Jersey only has three life insurance companies that operate specifically in the state, but that does not mean affordable life insurance rates in New Jersey are hard to come by. You can still access the best life insurance in New Jersey with our free quote tool on this page.

The Insurance Information Institute lists a few helpful tips that will help make buying life insurance more simple, including ones we have discussed here frequently – shopping around.

With information on multiple life insurance companies, you can be sure that you get exactly what you need out of a life insurance company and policy.

What is the New Jersey Guaranty Association?

State guaranty associations are committed to protecting resident policyholders and beneficiaries in the event of an insurance company insolvency. The association comprises all insurance companies licensed to sell life insurance, health insurance, and annuities in the state. (For more information, read our “How to Sell Your Life Insurance Policy“).

If an insurance company becomes insolvent (goes out of business), the association steps in to protect policyholders by continuing coverage and paying claims up to defined limits.

In New Jersey, a life insurance policy is protected up to $500,000. This amount is the maximum benefit provided for any one life. In other words, multiple policies on any one person are limited to this amount.

You may also ask: Who regulates insurance companies in NJ? The  Department of Banking and Insurance does.

What are some New Jersey life insurance resources?

Here is a list of all the necessary state contacts for residents with New Jersey life insurance claims and other related matters.

Guaranty Association

Contact the New Jersey Life & Health Insurance Guaranty Association or call them at 1-732-345-5200.

Insurance Department

For the latest updates from the New Jersey Department of Banking & Insurance, you can call the State of New Jersey phone number at 1-800-446-7467 or visit the website under the same name. Here, at the official New Jersey Department of Insurance, you can inquire about all things NJ life insurance.

You can also obtain access through the NJ insurance license lookup or the NJDOBI license search for any provider. The New Jersey Department of Insurance will also have information on which providers have not satisfied their NJ insurance license renewal requirements.

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What are the best New Jersey life insurance companies?

At QuickQuote, we do the hard work of reviewing tons of life insurance companies, so you don’t have to. We know searching for a good life insurance company is difficult and time-consuming, so we’ve put detailed life insurance company reviews in one place.

Below is a list including some of the best life and health insurance companies in NJ that we have reviewed for your convenience.

Why do I need life insurance?

Life insurance can be extremely beneficial in the event of passing. With life insurance, your beneficiaries are provided with financial stability if you pass away. Funeral expenses and other necessary expenses are covered under life insurance, so no one has to stress more in a stressful time.

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Your life insurance quotes are always free.

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What are the different types of life insurance?

Life insurance is sold in two main types: whole life insurance and term life insurance. You should be familiar with these two and how they work, so that when it is time for you to choose your policy, you’ll be educated enough to make a decision that best fits your needs.

Whole life insurance, also known as permanent life insurance, is designed to cover an individual for the entire duration of his or her life. Part of your premiums for this builds up cash value over time, that is a sort of savings account from which you can draw retirement or even loans.

Term life insurance is for a set amount of time, usually 10 to 30 years. After your established time, the policy expires and you’ll need to either renew your policy or purchase a new one.

Are you ready to buy New Jersey life insurance? Don’t wait. Use our free quote tool to get instant and affordable New Jersey life insurance rates. Get started now.

Frequently Asked Questions

How do I get New Jersey life insurance quotes?

How do I get New Jersey life insurance quotes?

We offer life insurance quotes from several A-rated life insurance companies in New Jersey. The premium you pay for your life insurance policy does not vary by state. It is the same regardless of which state you live in. You can use our free quote tool to get started and compare quotes.

What are life insurance rates in New Jersey?

What are life insurance rates in New Jersey?

Life insurance rates in New Jersey vary based on factors such as non-smoking status, age, marital status, and gender. To get an idea of what rates look like, you can refer to the chart provided in our guide. Keep in mind that rates may differ based on individual circumstances and the type of policy chosen.

What is the New Jersey Guaranty Association?

What is the New Jersey Guaranty Association?

The New Jersey Guaranty Association is an association that protects policyholders and beneficiaries in the event of an insurance company insolvency. It ensures that coverage continues and claims are paid up to defined limits. In New Jersey, a life insurance policy is protected up to $500,000 for any one individual.

What are some New Jersey life insurance resources?

What are some New Jersey life insurance resources?

We provide a list of state contacts for New Jersey residents with life insurance claims and other related matters. You can contact the New Jersey Life & Health Insurance Guaranty Association for assistance. The New Jersey Department of Banking & Insurance is another valuable resource for information on life insurance in the state.

What are the best New Jersey life insurance companies?

What are the best New Jersey life insurance companies?

We have reviewed and compiled a list of some of the best life and health insurance companies in New Jersey for your convenience. You can find detailed company reviews on our website to help you make an informed decision when choosing a life insurance provider.

Your life insurance quotes are always free.

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Written by:

Laura Gunn

Insurance and Finance Writer

Laura Gunn is a former teacher who uses her passion for writing and learning to help others make the best decisions regarding finance and insurance. After stepping away from the classroom, Laura used her skills to write across many different industries including insurance, finance, real estate, home improvement, and healthcare. Her experience in various industries has helped develop both her wr...

Insurance and Finance Writer

Reviewed by:

Justin Wright

Licensed Insurance Agent

Justin Wright has been a licensed insurance broker for over 9 years. After graduating from Southeastern Seminary with a Masters in Philosophy, Justin started his career as a professor, teaching Philosophy and Ethics. Later, Justin obtained both his Property & Casualty license and his Life and Health license and began working for State Farm and Allstate. In 2020, Justin began working as an i...

Licensed Insurance Agent

Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.

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We've been helping people buy life insurance online for over 23 years. In fact, we launched our first website a full year before Google!

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