NJ| The Department issued this Bulletin to direct all life carriers to extend a grace period for the payment of premiums to their insureds. The Department is directing all licensed life insurers to provide their policyholders or certificate holders who may be experiencing financial hardship due to COVID-19 with at least a 90-day grace period to pay life insurance and annuity contracts premiums so that insurance policies or contracts are not cancelled for nonpayment of a premium during this challenging time due to the COVID-19 Pandemic.
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