Establishes requirements regarding processing of requests to surrender or annuitize matured annuities.

This New Jersey bill (S 4129) requires insurers to follow specific timelines and processes when consumers request to surrender or annuitize matured annuities. It mandates that insurers disburse funds within 10 business days of a surrender request and give owners 90 calendar days from the annuity's maturity date to request annuitization (converting to guaranteed income payments), if the annuity auto-renews. The bill also requires insurers to offer electronic fund disbursement, accept requests with bank-issued signature guarantees, continue earning interest during processing, and provide contact details for request status inquiries. These rules apply to most annuities sold to New Jersey residents, excluding those specified in existing law.