Q.

Illustrate the Purpose of Grace-Period.

A. It is a Period, within which, Policy-Holder may cancel the Policy, if He or She Does Not Like the Same.
B. It grants the Policy- Holder, An Additional Time, to Pay His or Her Premium.
C. It provides a Period, within which, Policy- Holder must raise a Complaint, in Case of Any Grievance.
D. It provides a Period, after which, Policy- Holder must Pay His or Her Over-Due Premium.
Answer» B. It grants the Policy- Holder, An Additional Time, to Pay His or Her Premium.

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Insurance Exam (LIFE)

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