Arizona § 20-1309 Reinstatement

Arizona Statutes

§ 20-1309 — Reinstatement

Arizona § 20-1309

Title 20Arizona Revised Statutes

Ch. 6PARTICULAR TYPES OF INSURANCE

Art. 3Industrial Life Insurance

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Bluebook

Ariz. Rev. Stat. Ann. § 20-1309 (2026).

Text

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 production of evidence of insurability satisfactory to the insurer, the payment of all premiums in arrears, and the payment or reinstatement of any other indebtedness to the insurer upon the policy, all with interest at a rate not exceeding six per cent per annum compounded annually.

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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 production of evidence of insurability satisfactory to the insurer, the payment of all premiums in arrears, and the payment or reinstatement of any other indebtedness to the insurer upon the policy, all with interest at a rate not exceeding six per cent per annum compounded annually.