Arizona Laws 20-1205. Application and policy as entire contract; statements in application as representations; information
Current as of: 2023 | Check for updates
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A. There shall be a provision that the policy, or the policy and the application therefor if a copy of the application is endorsed upon or attached to the policy when issued, shall constitute the entire contract between the parties, and that all statements contained in the application shall, in the absence of fraud, be deemed representations and not warranties.
Terms Used In Arizona Laws 20-1205
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Contract: A legal written agreement that becomes binding when signed.
- Fraud: Intentional deception resulting in injury to another.
B. On written request of an applicant or annuity holder, an insurer shall provide within a reasonable time reasonable factual information regarding the benefits and provisions of his annuity contract.