Massachusetts State Life Insurance Practice Exam 2025 - Free Life Insurance Practice Questions and Study Guide

Question: 1 / 475

How long is the typical grace period allowed for overdue premium payment?

15 days

30 days

The typical grace period allowed for overdue premium payment is 30 days. This grace period is established to provide policyholders a specified timeframe after the premium due date during which they can make their payment without risking the lapse of their insurance policy. During this time, coverage continues, even if the payment is not yet made.

This standard is generally recognized in the life insurance industry, ensuring that customers have the opportunity to rectify their payment without immediate repercussions. If payments are made within this 30-day grace period, the policy remains in force, protecting the insured during a potentially challenging period.

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60 days

90 days

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