State RegulationsAZ specificDifficulty 3/5
A Mesa resident's life policy lapsed more than three years ago for premium default. He wants the same policy back. Under A.R.S. 20-1213, what are his options?
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Answer & full 3-part explanation (select an option above, or peek)
Why A is correct
A.R.S. 20-1213 gives the policyholder 3 years from premium default to seek reinstatement. Once that window closes, reinstatement is no longer available; the Mesa resident's only path is a new application subject to fresh underwriting and current premiums.
Why the other options are wrong
- B) The statutory reinstatement window has closed, so paying the arrears cannot revive this policy.
- C) The reinstatement right exists only within the statutory window, not indefinitely.
- D) The Director has no power under A.R.S. 20-1213 to order reinstatement after the window closes.
Memory hook
Three years, then the old policy is gone for good.