State RegulationsAZ specificDifficulty 2/5
An Arizona resident signs an annuity application two weeks before her 65th birthday, and the contract is delivered a month after the application. Under A.R.S. 20-1233, which free-look window applies?
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Answer & full 3-part explanation (select an option above, or peek)
Why A is correct
Under A.R.S. 20-1233, the extended 30-day annuity return window depends on the contract holder being age 65 or older on the date of application. This applicant was still short of that age when she signed, so only the general 10-day window after delivery applies, even though she crosses the age line before delivery. Producers must capture the application date accurately to know which window governs.
Why the other options are wrong
- B) The age test is measured on the date of application, not at delivery, so her delivery-day age does not extend the window.
- C) No 45-day window exists under A.R.S. 20-1233; the choices are 10 days generally or 30 days for age 65 or older at application.
- D) There is a free-look window — the general 10-day window applies because the age-extended window was not triggered at application.
Memory hook
The birthday after signing is too late — age is locked at application.