State RegulationsMI specificDifficulty 2/5
A policyowner in Kalamazoo pays the premiums on her individual accident and health policy quarterly. She misses the premium due date. Under Michigan law, how long is the grace period before the policy lapses for nonpayment?
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Answer & full 3-part explanation (select an option above, or peek)
Why B is correct
M.C.L. 500.3410 gives a 31-day grace period for premium modes other than weekly and monthly. A quarterly premium falls squarely in that category, so the policyowner has 31 days to pay before the policy lapses.
Why the other options are wrong
- A: 7 days applies only to weekly premium policies.
- C: 10 days applies to monthly premium policies, not quarterly.
- D: 5 days is the advance-notice period for an insurer's intent not to renew a renewable policy, not a grace period.
Memory hook
Anything beyond weekly or monthly gets the full 31.