State RegulationsTN specificDifficulty 1/5
What grace period does Tennessee require in a group life insurance policy?
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Answer & full 3-part explanation (select an option above, or peek)
Why C is correct
T.C.A. § 56-7-2305(a)(3)(A) requires group life policies delivered in Tennessee to provide a grace period of 31 days for the payment of every premium. The group rule stands beside the individual life rule of T.C.A. § 56-7-2307, which grants 1 month, so the correct figure depends on which product the contract names — a distinction the Tennessee Department of Commerce & Insurance expects candidates to keep straight.
Why the other options are wrong
- A) 1 month is the individual life grace period under T.C.A. § 56-7-2307(2), not the group grace period.
- B) Tennessee law provides no 3-month grace period for group life certificates.
- D) The group grace applies to every premium, and no 6-month figure appears in the group required-provisions rule of T.C.A. § 56-7-2305.
Memory hook
Group gets 31 days; individual gets 1 month — match the number to the contract.