Arizona Laws 20-1230. Prohibition of dual or multiple pay policies
Current as of: 2024 | Check for updates
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No life insurance policy shall be issued or delivered in this state if it provides that on the death of anyone not specifically named therein, the owner or beneficiary of the policy shall receive the payment or granting of anything of value.
Terms Used In Arizona Laws 20-1230
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC