Arizona Revised Statutes Title 20, Secs. 20-1301 onward: Industrial Life Insurance

What this document is

Arizona Revised Statutes Title 20, Secs. 20-1301 onward - Industrial Life Insurance is a state statute published by Arizona State Legislature (azleg.gov). It is one of the Arizona documents that insurance license exam questions are written from, including arizona life & health practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• A.R.S. Title 20 § 20-1312(B) (Industrial Life: Beneficiary; Change of Beneficiary; Payment)

  “The policy may also provide that no designation or change of beneficiary shall be binding on the insurer unless endorsed on the policy by the insurer, and that the insurer may refuse to endorse the name of any proposed beneficiary who does not appear to the insurer to have an insurable interest in...”

• A.R.S. Title 20 § 20-1304 (Entire Contract; Statements as Representations)

  “There shall be a provision that the policy shall constitute the entire contract between the parties, or, if a copy of the application is endorsed upon or attached to the policy when issued, a provision that the policy and the application therefor shall constitute the entire contract. If the...”

• A.R.S. Title 20 § 20-1301 (Scope of the industrial life article)

  “The provisions of this article apply only to industrial life insurance policies. Section 20-1217 (contestability as to excluded or restricted coverage), section 20-1226 (limitation of liability), section 20-1227 (incontestability after reinstatement), section 20-1230 (dual pay policies) and...”

• A.R.S. Title 20 § 20-1303 (Industrial Life Grace Period)

  “There shall be a provision that the insured is entitled to a grace period of four weeks within which the payment of any premiums after the first may be made, except that in policies the premiums for which are payable monthly, the period of grace shall be one month, but not less than thirty days,...”

• A.R.S. Title 20 § 20-1310 (Industrial Life: Settlement)

  “There shall be a provision that when the policy becomes a claim by the death of the insured, settlement shall be made upon surrender of the policy and receipt of due proof of death.”

• A.R.S. Title 20 § 20-1306 (Misstatement of Age)

  “There shall be a provision that if it is found that the age of the individual insured, or the age of any other individual considered in determining the premium, has been misstated, any amount payable or benefit accruing under the policy shall be such as the premium would have purchased at the correct age or ages.”

• A.R.S. Title 20 § 20-1307 (Dividends)

  “If a participating policy, there shall be a provision that the insurer shall annually ascertain and apportion any divisible surplus accruing on the policy, except that at the option of the insurer such participation may be deferred to the end of the fifth policy year.”

• A.R.S. Title 20 § 20-1311 (Industrial Life: Authority to Alter Contract)

  “There shall be a provision that no insurance producer shall have the power or authority to waive, change or alter any of the terms or conditions of any policy, except that at the option of the insurer the terms or conditions may be changed by an endorsement signed by a duly authorized officer of the insurer.”

• A.R.S. Title 20 § 20-1309 (Reinstatement)

  “There shall be a provision that unless the policy has been surrendered for its cash surrender value or unless the paid-up term insurance, if any, has expired, the policy will be reinstated at any time within two years from the date of premium default upon written application therefor, the...”

• A.R.S. Title 20 § 20-1302 (Required provisions)

  “No policy of industrial life insurance shall be delivered or be issued for delivery in this state unless it contains in substance the applicable provisions set forth in sections 20-1303 to 20-1316, inclusive.”

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More Arizona sources

• Ariz. Rev. Stat. s. 20-443: Misrepresentations and false advertising of policiesState statute
• Ariz. Rev. Stat. s. 20-295: License denial, suspension, or revocation; civil penaltyState statute
• Ariz. Rev. Stat. ss. 20-448, 20-452: Unfair discrimination and rebatesState statute
• Ariz. Rev. Stat. ss. 20-1203 to 20-1210: Standard life insurance policy provisionsState statute
• A.R.S. Title 20, Chapter 2, Article 2 - Unfair Trade Practices (Secs. 20-441 through 20-462)State statute
• Arizona Revised Statutes Title 20, Chapter 1 - General Provisions (Secs. 20-101 through 20-191)State statute
• Arizona Revised Statutes Title 20, Secs. 20-1001 onward - Prepaid Dental Plan Organizations and Related EntitiesState statute
• Arizona Revised Statutes Title 20, Secs. 20-1101 onward - The Insurance ContractState statute