State RegulationsAZ specificDifficulty 1/5
Under A.R.S. 20-1203, the grace period for an individual life insurance policy in Arizona is:
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Answer & full 3-part explanation (select an option above, or peek)
Why C is correct
Under A.R.S. 20-1203, every individual life policy must contain a grace period of 30 days — or, at the insurer's option, one month of not less than 30 days — for the payment of any premium after the first, during which the policy remains in force. Arizona's life grace period is a deviation from the 31-day model some candidates expect, so memorizing the state-specific figure matters on the Arizona examination.
Why the other options are wrong
- A) A 10-day grace period is not the Arizona life figure; A.R.S. 20-1203 sets 30 days for individual life policies.
- B) A 31-day grace period is the number for certain other contexts, not the Arizona individual life grace period, which is 30 days under A.R.S. 20-1203.
- D) A 60-day grace period is far beyond the statute; A.R.S. 20-1203 requires no more than 30 days for individual life coverage.
Memory hook
Arizona life grace is a clean 30 — not the 31-day model from other contexts.