What is the grace period in case of monthly premium
payment mode in insurance?
A7 daysCorrect AnswerIncorrect Answer
B15 daysCorrect AnswerIncorrect Answer
C30 daysCorrect AnswerIncorrect Answer
D45 daysCorrect AnswerIncorrect Answer
E90 daysCorrect AnswerIncorrect 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.
