Final Answer:
The statement is False. The notice period for non-payment of premium is typically shorter, often requiring a 10-day notice, while other reasons may necessitate a 30-day notice.
Step-by-step explanation:
In insurance or contractual agreements, the notice period for policy cancellation or termination can vary based on the reason for termination. Generally, for non-payment of premium, a shorter notice period is common, often around 10 days. This allows the policyholder an opportunity to address the outstanding payment before the policy is terminated.
On the other hand, for termination due to reasons other than non-payment, a longer notice period, such as 30 days, is often required. This extended notice period allows the policyholder more time to adjust to the impending termination and make informed decisions regarding their insurance coverage.
The statement is False.