What is an insurance policy’s grace period?

Insurance

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What is an insurance policy’s grace period?

Options

a) Period of time after the initial premium is paid and before the policy is issued
b) Period of time it takes for a policy’s underwriting to complete
c) Period of time after a policy is issued and before it is delivered to policyowner
d) Period of time after the premium is due but the policy remains in force

Answer: d) Period of time after the premium is due but the policy remains in force

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