A Florida resident misses the due date for a premium on her individual life policy; it is not the first premium due under the contract. Under Florida law, how much time does the policy's grace period give her to pay the overdue premium and keep the coverage in force?

Why C is correct

Under Fla. Stat. 627.453, a life or annuity policy issued in Florida must contain a grace period of not less than 30 days for the payment of any premium other than the first. The policy remains in force during the grace period, and if the insured dies while a premium is overdue, the insurer may deduct the overdue premium plus interest (capped at 8% per year) from the death proceeds. In practice, this means a Florida policyowner always has at least a month to catch up a missed premium without losing coverage.

Why the other options are wrong

• A) The 7-day grace period applies to health policies with weekly premium modes under Fla. Stat. 627.608, not to life insurance.
• B) The 10-day figure is the grace period for health policies with monthly premium modes under Fla. Stat. 627.608, not the life insurance minimum.
• D) The 31-day grace period applies to health policies whose premiums are paid other than weekly or monthly; Florida life policies require a minimum of 30 days.

Memory hook

Life gives at least 30 days to pay; health grace splits by premium mode.