State RegulationsAZ specificDifficulty 2/5
A producer tells a client that every Arizona insurance product carries a statutory 30-day free look. Under Arizona insurance law, is the producer's statement correct?
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Answer & full 3-part explanation (select an option above, or peek)
Why D is correct
Arizona insurance law grants statutory free looks only for defined products — 30 days for LTC under A.R.S. 20-1691.07 and 30 days for Medicare supplement policies under A.A.C. R20-6-1101, among others — not as a universal entitlement. A blanket claim of a free look on every product misstates Arizona law and can amount to a misrepresentation in the sale.
Why the other options are wrong
- A) No uniform free look covers all personal insurance; the rights are product-specific under Arizona law.
- B) The 10-day figure belongs to specific products such as annuities and variable life, not to a general shortened period for most products.
- C) This overstates the opposite extreme; several products, including LTC and Medicare supplement policies, do carry statutory or rule-based free looks.
Memory hook
Free looks are product-specific islands, not a general shore.