State RegulationsAZ specificDifficulty 1/5
An individual health insurance policy delivered in Phoenix is issued with weekly premium payments. What is the minimum grace period the insurer must provide for premium payments after the first?
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Answer & full 3-part explanation (select an option above, or peek)
Why C is correct
Under A.R.S. 20-1347, an individual health policy with weekly premiums must provide a grace period of not less than 7 days for any premium after the first, and coverage continues during the grace period. A policyholder in Phoenix who misses a weekly payment therefore keeps coverage alive for a full week while catching up, which prevents an accidental one-week slip from terminating protection.
Why the other options are wrong
- A) 10 days is the minimum grace period for monthly-premium health policies, not weekly ones.
- B) 30 days is the individual life policy grace period under A.R.S. 20-1203, not the health figure for weekly modes.
- D) 31 days is the minimum for all other premium modes such as quarterly or annual, not weekly.
Memory hook
Weekly means 7 — one week to catch up.