N.J.S.A. 17B:25-10 — Payment of premiums

17B:25-10. Payment of premiums There shall be a provision relative to the payment of premiums. L.1971, c. 144, s. 17B:25-10. 17B:25-10.1. Notice mailed to holders of life insurance policy An insurer shall give written notice by regular mail to the holder of a life insurance policy when, to prevent lapse of the policy, a premium is paid automatically by charging it against the policy's loan value which is derived from the cash value of the policy. The notice shall show the amount of the loan and the loan interest rate. The notice shall be mailed no later than 30 days after the end of the grace period of the premium paid by loan. L.1991,c.7,s.1.

This is the verbatim text of N.J.S.A. 17B:25-10, 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.