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    Question

    What is the grace period in case of monthly premium

    payment mode in insurance?
    A 7 days Correct Answer Incorrect Answer
    B 15 days Correct Answer Incorrect Answer
    C 30 days Correct Answer Incorrect Answer
    D 45 days Correct Answer Incorrect Answer
    E 90 days Correct Answer Incorrect Answer

    Solution

    If you make annual payments, the maximum grace period available for renewal is 30 days. However, if you make monthly payments, you are eligible for only 15 days of grace period.

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