New Jersey Term and Universal Life Insurance

New Jersey Life Insurance Resources

Survivorship Policies

Survivorship life insurance insures two people, usually a husband and wife, and provides a death benefit to the beneficiaries at the death of the second insured. These plans are primarily designed to provide cash for estate taxes or for business costs that must to be paid after both insureds have died.

Survivorship insurance contracts can be structured as ordinary life, graded premium life, or universal life policies. An important advantage of a survivorship contract is that its coverage costs less than the premiums for two separate policies with an total amount equal to the survivorship policy’s death benefit. More liberal underwriting means the policy can be written even if one party has significant health issues. .

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Clearly, New Jersey Term and Universal Life Insurance has many uses. Its main use for families is to protect dependents from the financial burden of the early death of a breadwinner. About seventy percent of American adults have some form of life insurance.

Without a breadwinner, a family may not be able to meet mortgage payments, provide for college, or prepare for retirement. Moreover, families with young children often have the greatest need for life insurance. If both spouses work outside the home the loss of even one income may cause the family tremendous financial hardship.

New Jersey Department of Insurance:   The state insurance department website includes consumer and licensee resources including a listing of all licensed life insurance agents and companies which make up the New Jersey Life insurance market.

New Jersey Life & Health Insurance Guaranty Fund – The state life insurance guaranty association works to guarantee the safety of all New Jersey Life Insurance coverage, even in the face of an insolvency by a member life insurance company.


New Jersey Life Insurance Company Ratings – AM Best is the most prominent ratings company reviewing New Jersey Life Insurance Companies based on their ability to pay claims. At Life Insurance.Net we work only with A and A+ rated life insurance companies..

Life Insurance Carrier Ratings

Here is a complete list of the State Departments of Insurance

Learn more about our wonderful state. Check out Netstate’s New Jersey State Almanac
Our life insurance agents service all communities in New Jersey including:

  • Newark
  • Jersey City
  • Paterson
  • Elizabeth
  • Edison
  • Trenton

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