State RegulationsAZ specificDifficulty 1/5
Under A.R.S. 20-1215, if the insurer specifies a period for settling a life claim after receiving due proof of death, the period may not exceed:
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Answer & full 3-part explanation (select an option above, or peek)
Why C is correct
A.R.S. 20-1215 caps any insurer-specified settlement period at 2 months after receipt of due proof of death. Beneficiaries therefore know the proceeds must be paid, or a settlement arrangement begun, within that statutory limit.
Why the other options are wrong
- A) 30 days is the life grace period figure under A.R.S. 20-1203, not the claims settlement limit.
- B) 6 months is the maximum deferral period for policy loans, not for settling claims.
- D) No one-year settlement period is permitted under A.R.S. 20-1215.
Memory hook
Due proof in, two months to settle.