New Jersey Life Producer Practice Exam

What is the maximum duration before a temporary certificate expires after issuance?

1. 15 days

2. 30 days

3. 45 days

4. 60 days

The correct answer is: 15 days

A temporary certificate is typically issued to provide coverage while a life insurance application is being processed, ensuring that the applicant has insurance protection during this interim period. In New Jersey, the law states that a temporary certificate can last for a maximum of 15 days from the date of issuance. This limited duration is meant to encourage prompt processing of the insurance application and to avoid extended periods of uncertainty for the applicant regarding their insurance coverage status. While some other states may have different regulations concerning the duration of temporary certificates, New Jersey specifically limits it to 15 days, making this the correct answer.