New Jersey Life Insurance [2024]

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.

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. 

Your life insurance quotes are always free.

 Secured with SHA-256 Encryption

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.

Your life insurance quotes are always free.

 Secured with SHA-256 Encryption

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.

• American General Life Insurance Company
• Banner Life Insurance Company
• Fidelity Life Association
• Haven Life / MassMutual
• John Hancock Life Insurance Company
• Lincoln National Life Insurance Company
• Metlife Life Insurance Company
• North American Company for Life & Health Insurance
• Pacific Life & Annuity Company
• Principal Life Insurance Company
• Protective Life Insurance Company
• Pruco Life Insurance Company (Prudential)
• Sagicor Life Insurance Company
• The Savings Bank Life Insurance Company of Massachusetts (SBLI)
• Transamerica Life Insurance Company
• United of Omaha Life Insurance Company

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.

Your life insurance quotes are always free.

 Secured with SHA-256 Encryption

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.

Your life insurance quotes are always free.

 Secured with SHA-256 Encryption