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Utah Code Title 31A. Insurance Code § 31A-22-513. Grace period

Current as of January 01, 2025 | Updated by Findlaw Staff

(1)(a) Every group life insurance policy shall contain a provision that the policyholder is entitled to a grace period of not less than 31 days for the payment of any premium due except the first payment of premium.

(b) During the grace period described in Subsection (1)(a) the death benefit coverage continues in force, unless the policyholder gives the insurer written notice of discontinuance:

(i) in advance of the date of discontinuance; and

(ii) in accordance with the policy terms.

(2) The policy may require the policyholder to pay the pro rata premium for the time the policy is in force during the grace period.

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Cite this article: FindLaw.com - Utah Code Title 31A. Insurance Code § 31A-22-513. Grace period - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-31a-insurance-code/ut-code-sect-31a-22-513/

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