N.J.S.A. 17:44B-16 — Provision of contractual benefits

17:44B-16. Provision of contractual benefits 16. a. A society may provide the following contractual benefits in any form, except in the form of group insurance: (1) death benefits; (2) endowment benefits; (3) annuity benefits; (4) temporary or permanent disability benefits; (5) hospital, medical or nursing benefits; (6) monument or tombstone benefits to the memory of deceased members; and (7) other benefits as authorized for life and health insurers and which are not inconsistent with this act. b. A society shall specify in its rules those persons who may be issued, or covered by, the contractual benefits in subsection a. of this section, consistent with providing benefits to members and their dependents. A society may provide benefits on the lives of minors under the minimum age for adult membership upon application of an adult person. L.1997,c.322,s.16.

This is the verbatim text of N.J.S.A. 17:44B-16, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.