Q872
What is the standard length of a grace period under a life insurance policy?
A.
One month not more than 30 days
B.
One month not less than 31 days
AnswerC.
One month not more than 31 days
D.
One month not less than 30 days
Answer: Option B
Solution
Answer: Option B
Solution:
One month not less than 31 days is the standard length of a grace period under a life insurance policy. The amount of time granted in an insurance grace period is indicated in the insurance policy contract. Paying after the due date may attract a financial penalty from the insurance company.