New Jersey Life Producer Practice Exam

For how many years must insurers maintain files of all advertisements used in the solicitation of life insurance?

1. 1 year

2. 3 years

3. 5 years

4. 10 years

The correct answer is: 5 years

Insurers are required to maintain files of all advertisements used in the solicitation of life insurance for a duration of five years. This requirement is in place to ensure that all marketing materials can be reviewed and audited for compliance with regulatory standards. Keeping thorough records for this period allows regulators to verify that advertising practices align with ethical guidelines and consumer protection laws, as well as provide clarity in case of customer inquiries or disputes regarding the accuracy of the information presented in advertisements. This longer retention period emphasizes the importance of transparency and accountability in the advertising and solicitation processes of insurance products, which can significantly impact consumer decision-making.