State RegulationsFL specificDifficulty 1/5
Under Florida law, what is the minimum grace period that an individual life policy must provide for any premium after the first?
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Answer & full 3-part explanation (select an option above, or peek)
Why C is correct
Under Fla. Stat. 627.453, a life insurance policy must provide a grace period of not less than 30 days for any premium after the first, during which the policy remains in force. The 7-day and 10-day figures are health-policy grace periods for weekly and monthly premium modes under Fla. Stat. 627.608, and 31 days is the health grace period for all other modes - none of them sets the life minimum.
Why the other options are wrong
- A) Seven days is the health grace period for weekly premium modes, not the life minimum.
- B) Ten days is the health grace period for monthly premium modes, not the life minimum.
- D) Thirty-one days is the health grace for modes other than weekly or monthly; life requires at least 30.
Memory hook
Life grace floor: 30 days, no matter the mode.