Arizona Revised Statutes § 20-1259 Grace Period

20-1259. Grace period

In group life policies there shall be a provision that the policyholder is entitled to a grace period of thirty-one days for the payment of any premium due except the first, during which grace period the death benefit coverage shall continue in force, unless the policyholder has given the insurer written notice of discontinuance in advance of the date of discontinuance and in accordance with the terms of the policy. The policy may provide that the policyholder shall be liable to the insurer for the payment of a pro rata premium for the time the policy was in force during such grace period.

Section: Previous  20-1252  20-1253  20-1254  20-1255  20-1256  20-1257  20-1258  20-1259  20-1260  20-1261  20-1262  20-1263  20-1264  20-1265  20-1266  Next

Last modified: October 13, 2016