State RegulationsAZ specificDifficulty 2/5
A policyholder in Arizona applies to reinstate a lapsed life policy within the statutory window. Under A.R.S. 20-1213, which condition applies?
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Answer & full 3-part explanation (select an option above, or peek)
Why C is correct
A.R.S. 20-1213 conditions reinstatement on a written application, evidence of insurability satisfactory to the insurer, payment of all overdue premiums plus interest, and repayment of any policy debt. Reinstatement restores the coverage on the insurer's statutory terms.
Why the other options are wrong
- A) Interest and evidence of insurability are required; overdue premium alone is not enough.
- B) No free-look period attaches to reinstatement under Arizona law.
- D) The statute requires evidence of insurability; there is no short-lapse waiver.
Memory hook
Write, prove, pay - premiums, interest, and debt.