State RegulationsAZ specificDifficulty 1/5
Under A.R.S. 20-1347, what is the minimum grace period for an individual accident and health policy with monthly premiums?
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Answer & full 3-part explanation (select an option above, or peek)
Why B is correct
A.R.S. 20-1347 sets the health policy grace period by premium mode: not less than 7 days for weekly premiums, 10 days for monthly premiums, and 31 days for all other policies. A Tucson policyholder paying monthly always receives at least 10 days of continued coverage after a missed payment, giving a predictable cushion against lapse.
Why the other options are wrong
- A) 7 days is the weekly-premium minimum, not the monthly figure.
- C) 30 days is the life policy grace period under A.R.S. 20-1203, not the health figure for monthly modes.
- D) 31 days applies to all other policies such as quarterly, semiannual, or annual modes, not monthly ones.
Memory hook
Monthly mode means 10 days to pay.