The policy feature that allows you to pay the premium late but still retain coverage is known as the

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The grace period is a feature that allows the policyholder to pay the premium late without losing coverage. During this period, the policy remains in force, and the insurer cannot cancel the policy or refuse to pay claims. The length of the grace period varies depending on the policy and the insurer, but it typically lasts between 30 and 60 days. The other options are not related to paying premiums late.

The Policy Feature That Allows You to Pay the Premium