Ohio Insurance Laws and Regulations Practice Exam

Question: 1 / 400

What is the specified period after the due date called, during which payment can be made to avoid discontinuance of coverage?

Waiting period

Grace period

A waiting period refers to a predetermined amount of time that must pass before certain coverages are available.

A renewal period is the time frame in which an individual has the option to renew their coverage or policy.

A coverage period is the length of time that an insurance policy is in effect.

Since the question specifically mentions a due date, the correct answer is B, grace period. A grace period is a period of time after the due date during which an individual can still make a payment and avoid losing coverage. This term is commonly used in insurance and credit card contexts. Therefore, option B is the most appropriate and specific answer to the question.

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Renewal period

Coverage period

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