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New Jersey Statutes, Title: 17B, INSURANCE
Chapter 17: Scope of act
Section: 17B:17-5: Annuity defined
"Annuity" is a contract not coming within the definition of life insurance as set forth in section 17B:17-3, or health insurance as set forth in section 17B:17-4, under which an insurer obligates itself to make periodic payments for a specified period of time, such as for a number of years, or until the happening of an event, or for life, or for a period of time determined by any combination thereof. Such a contract which includes extra benefits of the kinds set forth in sections 17B:17-3 or 17B:17-4 shall nevertheless be deemed to be an annuity if such extra benefits constitute a subsidiary or incidental part of the entire contract.
L.1971, c. 144, s. 17B:17-5.
This section added to the Rutgers Database: 2013-06-10 16:36:30.
Older versions of 17b:17-5 (if available):
Court decisions that cite this statute:
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