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Glossary > D > "Days of grace" Definition

Days of grace

Additional days which may be allowed by a company to a debtor over and above the due date for payment. For example, a life insurance company may allow days of grace for a policy to be kept in force after the date the premium is due for payment.

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Days of grace \ Additional days which may be allowed by a company to a debtor over and above the due date for payment. For example, a life insurance company may allow days of grace for a policy to be kept in force after the date the premium is due for payment.

Days of grace / additional days which may be allowed by a company to a debtor over and above the due date for payment. for example, a life insurance company may allow days of grace for a policy to be kept in force after the date the premium is due for payment.