Question

Explain the beneff of the grace period Choose the correct answer below. A. The grace period allows an individual to cancel the policy within 60 days. B. The grace period allows an individual to transfer the policy to a beneficiary within 30 days. C. The grace period allows an individual to be covered for up to 90 days, even if he or she has missed premium payments. D. The grace period allows an individual to be covered for up to 30 days, even if he or she has missed a premium payment.

Answer 1

The grace period allows an individual to be covered for up to 90 days, even if he or she has missed premium payments.

Step-by-step explanation:

The correct answer is C. The grace period allows an individual to be covered for up to 90 days, even if he or she has missed premium payments.

The grace period in insurance refers to a specific period of time during which an individual can make premium payments without their coverage being terminated. This period typically ranges from 30 to 90 days and allows individuals to maintain their coverage even if they have missed premium payments.

During the grace period, an individual's coverage remains in effect, providing protection and benefits as outlined in the policy. It is important to note that while the coverage remains active, any missed premium payments during the grace period will still need to be paid in order to keep the policy in force.