What is the coverage limit for life insurance or annuity cash values by the New Jersey Life and Health Guaranty Association?

The limit for life insurance or annuity cash values set by the New Jersey Life and Health Guaranty Association is indeed $100,000. This organization provides protection to policyholders in the event that an insurance company becomes insolvent. The designated limit is specifically meant to cover the cash surrender values of life insurance policies and annuities.

This coverage ensures that policyholders have a safety net to rely on, offering a degree of financial stability and peace of mind. It's essential for consumers to understand these limits as they make decisions about their insurance coverage. Knowing the specifics helps them weigh the benefits of their policies against possible risks, particularly in terms of the security provided by state safety nets.