Arizona § 20-1203 Grace period

Arizona Statutes

§ 20-1203 — Grace period

Arizona § 20-1203

Title 20Arizona Revised Statutes

Ch. 6PARTICULAR TYPES OF INSURANCE

Art. 1Life Insurance and Annuities

This text of Arizona § 20-1203 (Grace period) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 20-1203 (2026).

Text

There shall be a provision that a grace period of thirty days, or, at the option of the insurer, of one month of not less than thirty days, shall be allowed within which the payment of any premium after the first may be made, during which period of grace the policy shall continue in full force. If a claim arises under the policy during the period of grace before the overdue premium is paid, the amount of the premium may be deducted from the policy proceeds.

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There shall be a provision that a grace period of thirty days, or, at the option of the insurer, of one month of not less than thirty days, shall be allowed within which the payment of any premium after the first may be made, during which period of grace the policy shall continue in full force. If a claim arises under the policy during the period of grace before the overdue premium is paid, the amount of the premium may be deducted from the policy proceeds.