A life policy holder enjoy days of grace
- at the inception of the policy
-
at the renewal time of the policy
- when he surrenders the policy
- when the policy is paid up
The correct answer is: B
Explanation
A grace period allows a borrower or insurance customer to delay payment for a short period of time beyond the due date.
insurers allow policyholders a period of grace of at least 15 days, during which arrear premiums can be rectified. In the life insuranceindustry, the norm is to allow policyholders a grace period of 30 days.