If the grace period for a life insurance policy ends on a Sunday and the following Monday is a holiday, when is the premiun actually due?
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If the grace period for a life insurance policy ends on a Sunday and the following Monday is a holiday, when is the premiun actually due?
Asked on March 17, 2012 under Insurance Law, Mississippi
Answers:
MD, Member, California Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
It depends on how your contract is written and state law. Usually if the period ends on a Sunday and the next business day is a holiday, it would be that Tuesday. If not, the grace period end is the Sunday. Again, generally speaking it is based on the contract itself and definition of dates and calculations and how state law also indicates such dates should be interpreted.
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