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NJ S955

Bill

Official Source

Status

Introduced

1/13/2026

Primary Sponsor

Jon Bramnick

Click for details

Origin

Senate

2026-2027 Regular Session

AI Summary

  • Life insurance companies must notify policyholders and any producer of record at least 10 days before a policy lapses due to nonpayment of premium
  • Notice must be delivered through multiple channels: regular mail, electronic mail, and telephone, based on contact information on file with the insurer
  • Required lapse notifications are in addition to any other notices about nonpayment already required under the policy terms
  • Law takes effect 90 days after enactment and applies only to life insurance policies issued on or after that date

Legislative Description

Requires notice prior to lapse of life insurance policy due to nonpayment of premium.

Commerce

Last Action

Introduced in the Senate, Referred to Senate Commerce Committee

1/13/2026

Committee Referrals

Commerce1/13/2026

Full Bill Text

No bill text available