N.J. Stat. § 17B:26-30: Third party ownership

The word "insured," as used in this chapter, shall not be construed as preventing a person other than the insured with a proper insurable interest from making application for and owning a policy covering the insured or from being entitled under such a policy to any indemnities, benefits and rights provided therein.

L.1971, c. 144, s. 17B:26-30.