What is Life Insurance?
Life insurance provides financial protection for beneficiaries upon the death of the insured. It can also serve as a savings or investment vehicle through cash value accumulation. As a licensed producer, you'll help individuals and families secure their financial future.
This section covers everything you need to know for the life insurance portion of the NJ exam - from completing applications to NJ-specific laws and regulations.
Exam at a Glance
83
Questions
3.5
Hours
70%
To Pass
Where to Focus Your Study Time
Exam Tip
You may see 5-19 extra "pretest" questions that do NOT count toward your score and do NOT count against your time. Don't stress if a question seems out of left field - it might be one of these.
Study Priority Strategy
Chapters 5 and 3 together make up 55% of your exam. Master those two first, then move to the rest.
HIGH Priority (55%)
Ch 5: NJ Laws Common to All Lines (30%)
Ch 3: Riders, Provisions & Exclusions (25%)
MEDIUM Priority (25%)
Ch 1: Application & Underwriting (14%)
Ch 2: Types of Policies (11%)
STANDARD Priority (20%)
Ch 4: Taxes, Retirement & Other Concepts (10%)
Ch 6: NJ Laws - Life Only (10%)
Study Chapters
Completing the Application, Underwriting & Delivering the Policy
Contract law, insurability sources, applications, underwriting, policy delivery, and replacement
Types of Policies
Term life, whole life, universal life, variable life, annuities
Policy Riders, Provisions, Options & Exclusions
Standard provisions, common riders, nonforfeiture options, settlement options, exclusions
Taxes, Retirement & Other Insurance Concepts
Tax treatment of life insurance, qualified plans, IRAs, business uses of life insurance
NJ Laws, Rules & Regulations Common to All Lines
State regulation, licensing, producer requirements, unfair trade practices
NJ Laws - Life Insurance Only
NJ-specific life insurance regulations and requirements