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Today General Knowledge(GK)
_______is the length of time after a premium is due and unpaid during which the policy, including all riders, remains in force.
A)
Prompt Period
B)
Void Period
C)
Null Period
D)
Grace Period

Correct Answer : Option (D) - Grace Period



Grace Period – The length of time (usually 31 days) after a premium is due and unpaid during which the policy, including all riders, remains in force. If a premium is paid during the grace period, the premium is considered to have been paid on time.

Published On : June 2, 2021
Category : Insurance and Finance
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