State RegulationsFL specificDifficulty 2/5
A Florida civic organization pays the premium for its blanket health policy on an annual basis. If a due premium is not paid, how long is the policy's grace period?
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Answer & full 3-part explanation (select an option above, or peek)
Why B is correct
Under Fla. Stat. 627.608, health policy grace periods depend on the mode of premium: 7 days for weekly modes, 10 days for monthly modes, and 31 days for all other modes. Because this blanket policy's premium is paid annually — a mode other than weekly or monthly — the 31-day grace period applies, and coverage stays in force during it. The health grace rules apply to blanket health policies just as to other health coverage in Chapter 627, Florida Statutes.
Why the other options are wrong
- A) The 10-day grace period applies only to monthly premium modes, not to annual payment.
- C) The 7-day grace period applies only to weekly premium modes.
- D) Thirty days is the minimum life and annuity grace period under Fla. Stat. 627.453; health grace periods run by mode.
Memory hook
Annual pay, 31-day grace — 'all other modes'.