State RegulationsAZ specificDifficulty 1/5
Which documents make up the entire contract of a life insurance policy issued in Arizona under A.R.S. 20-1205?
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Answer & full 3-part explanation (select an option above, or peek)
Why C is correct
Under A.R.S. 20-1205, the entire contract of an Arizona life policy is the policy itself together with the copy of the application attached to it. Nothing else — no producer's oral statements, correspondence, or internal records — forms part of the contract. The statute also provides that only the insurer's officers may change or waive policy terms, protecting policyholders from unauthorized producer promises.
Why the other options are wrong
- A) Oral statements are not part of the entire contract; A.R.S. 20-1205 limits the contract to the policy and the attached application.
- B) Producer correspondence is outside the statutory definition; only the attached application joins the policy as the entire contract.
- D) The underwriting file is an internal record and forms no part of the contract under A.R.S. 20-1205.
Memory hook
Policy plus attached application — that's the whole deal, and only officers can change it.