An insured person is generally allowed, by policy provision or statute, a grace period of what length of time in which to make the payment of a premium due on a life insurance policy?

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A grace period is a period of time after the premium due date during which the policy remains in force even though the premium has not been paid. The usual length of the grace period for life insurance policies is 30 to 31 days. During this time, the insured person can make the premium payment and keep the policy in force.

An Insured Person Is Generally Allowed, by Policy Provision or Statute