State RegulationsAZ specificDifficulty 3/5
Compared with the annuity free-look window under A.R.S. 20-1233, the right of return for a variable life policy under A.R.S. 20-2604 is:
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Answer & full 3-part explanation (select an option above, or peek)
Why C is correct
Under A.R.S. 20-2604, a variable life policy must give the policyholder a right of return for 10 days after receipt of the policy, with no age-graded extension. The annuity free look under A.R.S. 20-1233 is age-graded — 10 days generally but 30 days for holders 65 or older at application — so the two products share a 10-day base but only the annuity window expands for older buyers.
Why the other options are wrong
- A) No 30-day return right exists for variable life regardless of age; the 30-day figure belongs to the age-graded annuity window.
- B) Variable life return rights apply to all policyholders for 10 days; there is no age 65-or-older trigger in A.R.S. 20-2604.
- D) The 61-day figure is the flexible-premium variable life grace period measured from the policyholder report, not a right of return.
Memory hook
Variable life returns in 10 flat — no senior bump like annuities.