The grace period in a life insurance policy is typically 31 days and provides for the:

The grace period in a life insurance policy is typically 31 days and provides for the:



a. Insurance company to delay payment of the death benefit until it can determine the validity of the proof of death

b. Payment of the premium to be received after its due date without a penalty or lapse in coverage

c. Payment of the premium to be received after its due date with a maximum 5% penalty

d. Policyowner to reinstate the policy before it lapses



Answer: B

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