An Insured Person Is Generally Allowed, by Policy Provision or Statute

question 17

Multiple Choice

An insured person is generally allowed, by policy provision or statute, a grace period of what length of time in which to make the payment of a premium due on a life insurance policy?

• A) 14 to 15 days
• B) 30 to 31 days
• C) 60 to 61 days
• D) 90 days

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Definitions:

Combinations

Various ways in which objects, numbers, or selections can be combined or arranged.

Corners

Points where two or more edges or surfaces meet, often used metaphorically to denote an aspect or part of something less explored or known.

Objective Function

A mathematical function used in optimization to define the goal of the decision-making process, such as maximizing profit or minimizing cost.

Products

Products are goods or services offered by a business to satisfy consumer needs or wants.