NJ A4174

Designates the National Guard Association of New Jersey as the provider of State-sponsored life insurance products for over 8,300 New Jersey National Guard members and their dependents through the Militia Insurance Trust.

Establishes the "New Jersey National Guard State-Sponsored Life Insurance Program" to offer low-cost life insurance options in addition to the existing federal Servicemembers Group Life Insurance program.

Requires the Department of Military Affairs, through the Adjutant General, to serve as official sponsor and facilitate enrollment and coordinate pay allotments with the United States Property and Fiscal Office.

Authorizes premium payments through payroll allotments as permitted under federal law (37 U.S.C. 707) and Department of Defense regulations.

Adds no fiscal responsibility for the State of New Jersey.