Grace Period
GRACE PERIOD
In insurance law, a period beyond the due date of a premium (usually thirty or thirty-one days) during which the insurance is continued in force and during which the payment may be made to keep the policy in good standing. The grace period for payment of the premium does not provide free insurance or operate to continue the policy in force after it expires by agreement of the parties. Grace period may also refer to a period of time provided for in a loan agreement during which default will not occur even though a payment is overdue.
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Nationality/Culture
Pronunciation
Alternate Names
Charites, Gratiae (Roman)
Appears In
Hesiod's Theogony, ancient Greek hymns and odes
Lineage… William Russell Grace , William Russell Grace
William Russell Grace (1832-1904), Irish-born American entrepreneur and politician, dominated commerce between Peru and the Uni… W.r. Grace & Company , W.R. Grace & Company
W.R. Grace & Company
7500 Grace Drive
Columbia, Maryland 21044
U.S.A.
Telephone: (410) 531-4000
Fax: (410) 531-4367
Web site: ht… Life Insurance , A life insurance policy is a legal agreement between an insurance agency and the policyholder, according to which the insurance agency agrees to pay…
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Grace Period