State RegulationsAZ specificDifficulty 1/5
Under A.R.S. 20-1213, within what period from premium default may an Arizona life policyholder apply for reinstatement?
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Answer & full 3-part explanation (select an option above, or peek)
Why B is correct
A.R.S. 20-1213 allows reinstatement of a lapsed life policy upon application within 3 years from the date of premium default, subject to evidence of insurability and payment of overdue premiums with interest. Compare variable life, where the window is 2 years under A.R.S. 20-2604.
Why the other options are wrong
- A) 2 years is the variable life reinstatement window under A.R.S. 20-2604, not ordinary life.
- C) No one-year reinstatement window exists in A.R.S. 20-1213.
- D) 30 days is the life grace period figure under A.R.S. 20-1203, not the reinstatement window.
Memory hook
Ordinary life reinstates in 3; variable in 2.