State RegulationsNC specificDifficulty 1/5
A North Carolina insured owns an individual accident and health policy with premiums payable monthly. Under G.S. 58-51-15(a)(3), the minimum grace period for this policy is:
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Answer & full 3-part explanation (select an option above, or peek)
Why D is correct
Under G.S. 58-51-15(a)(3), the grace period on accident and health policies is mode-based: not less than 7 days for weekly premiums, 10 days for monthly premiums, and 31 days for all other policies. A monthly-premium policy therefore carries at least a 10-day grace period, and coverage continues in force during the grace period.
Why the other options are wrong
- A) 31 days applies to all other premium modes and to individual life policies under G.S. 58-58-22(1), not to monthly-premium accident and health policies.
- B) 7 days is the weekly-premium grace period under G.S. 58-51-15(a)(3), not the monthly figure.
- C) 45 days is not a grace period; it recalls the reinstatement effective day under G.S. 58-51-15(a)(4).
Memory hook
A&H grace follows the mode: 7 weekly, 10 monthly, 31 all the rest.