Florida Statutes, Rules, and Regulations Pertinent to Life and Annuity Insurance, Including Variable Products
What grace period must a Florida group life insurance policy provide for a premium other than the first?
Answer and explanation
Answer: C. Section 627.559 entitles the policyholder to a grace period of 31 days for payment of any premium due except the first. That differs by one day from the 30-day minimum section 627.453 sets for individual contracts, so the two must not be interchanged.Source: Fla. Stat. § 627.559 — 627.559, Group grace period
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