- State Guaranty Association The New Jersey Life and Health Insurance Guaranty Association (contact details are in the national directory at nolhga.com) provides limited protection if an insurance company fails. New Jersey provides among the higher coverage levels in the country, generally $500,000 in present value of annuity benefits per contract owner, per insurer. Verify current limits directly with the association. Annuities are not FDIC insured.
- Annuity Tax Treatment New Jersey taxes annuity income but offers a large pension and retirement income exclusion, up to $100,000 for joint filers, for households under the state's income threshold. Social Security benefits are not taxed. Confirm your specific situation with a tax professional.
- State Insurance Department The New Jersey Department of Banking and Insurance regulates annuities sold in New Jersey. You can verify any insurance professional's license through its online license lookup.
- Free Look Period New Jersey generally provides a free look period of at least 10 days for annuity contracts, often longer for replacement contracts. Your contract states the exact period that applies to you.
- Best Interest Standard New Jersey adopted the NAIC Best Interest standard in 2025, becoming the 50th state to do so. Advisors recommending annuities to New Jersey residents must act in the consumer's best interest.
Retiring in New Jersey
New Jersey's property taxes get the headlines, but its retirement income exclusion is one of the largest in the country for moderate-income households.
Learn before you buy
Start with what an annuity actually is, then see how the types differ and which myths to ignore. If someone has already shown you a product, get a free second opinion before you sign.