Cal purchased a whole life policy 6 years ago. The policy requires ann
Cal purchased a whole life policy 6 years ago. The policy requires annual premium payments.
Cal forgot to pay the premium that was due 2 weeks ago. He wonders if his life insurance is still in force. Which life insurance policy provision is designed to keep the policy in force for a short time even if the premium payment is late?
A) waiting period
B) grace period
C) guaranteed purchase option
D) reinstatement clause
ANSWER
Answer: B
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