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Grace Period
In the insurance context, if a policyholder misses paying the renewal premium on the due date, the grace period is the time period immediately available after the renewal premium due date. The policyholder can pay the premium during this grace period to renew the policy without paying late payment charges and losing continuity benefits.
The grace period is typically 15 or 30 days. Though the policyholder can renew the policy within the grace period without any late payment charges, coverage is not available during the grace period until the renewal premium is paid
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A
- Accident
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B
C
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D
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E
F
G
H
I
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- Insurance Ombudsman
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L
M
N
O
P
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R
- Reasonable and Customary Charges
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- Renewal
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- Rider / Add-on Cover
- Room Rent Limit
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