Our Glossary of life insurance terms
A -
B -
C -
D -
E -
F -
G -
H -
I -
J -
K -
L -
M -
N -
O -
P -
Q
-
R -
S -
T -
U -
V -
W -
X -
Y -
Z
-
Misc
Grace Period
The time between an insurance policy's
premium due date and the date the policy will lapse if the
premium remains unpaid. Typically, grace periods are 30 or 31
days, and no interest is charged on premiums paid during that
time.
A grace period protects insured’s and their beneficiaries from
having the policy terminate inadvertently.
Return to
G
|