Arkansas Life and Health Insurance Practice Exam

Disable ads (and more) with a membership for a one time $2.99 payment

Prepare for the Arkansas Life and Health Insurance Exam with our comprehensive quiz featuring multiple-choice questions and detailed explanations. Gain the knowledge and confidence you need to succeed on your test!

Practice this question and more.

The grace period of an individual life insurance policy is:

10 days
15 days
30 days
60 days

The correct answer is: 30 days

The grace period of an individual life insurance policy is typically 30 days. During this period, the policyholder has the opportunity to pay the premium without the risk of the policy being canceled or lapsing. This grace period allows the policyholder to maintain coverage even if the premium payment is delayed temporarily. It is an important feature of life insurance policies to provide some flexibility to policyholders in managing their premium payments. Options A, B, and D are incorrect because they do not align with the standard grace period for individual life insurance policies, which is generally 30 days.