Grace* Period:(G.P)
The policyholders will pay to state life any premium at intervals a grace amount of thirteen days when it falls due.If the life insured dies throughout the grace amount, before the due premium is received by state life, then due premium are treated as received, however it'll be subtracted from no matter quantity is otherwise collectable by state life.
If the grace amount expires before due premium is received by state life, the policy can lapse unless it's unbroken inforce by state life, the policy .The lapse date are taken because the maturity date of the premium in default.No claim whatever shall lie against state life, underneath a irreligious policy.
The policyholders will pay to state life any premium at intervals a grace amount of thirteen days when it falls due.If the life insured dies throughout the grace amount, before the due premium is received by state life, then due premium are treated as received, however it'll be subtracted from no matter quantity is otherwise collectable by state life.
If the grace amount expires before due premium is received by state life, the policy can lapse unless it's unbroken inforce by state life, the policy .The lapse date are taken because the maturity date of the premium in default.No claim whatever shall lie against state life, underneath a irreligious policy.
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