Arizona High Court: Insurer Can’t Challenge Life Policy After 2-Year Period

(August 8, 2023, 8:11 AM EDT) -- PHOENIX — A unanimous Arizona Supreme Court answered in the negative a question certified to it from a federal court asking whether an insurer can challenge a life insurance policy’s validity based on the lack of an insurable interest after the two-year statutory contestability period expires, finding that under Arizona law, the only permitted challenges to a policy’s validity after the period expires are those for nonpayment of premiums....