There shall be a provision that the insured is entitled to a grace period of four weeks within which the payment of any premium after the first may be made, except, that, in policies the premiums which are payable monthly or less often, the period of grace shall be one month but not less than 30 days, and that during the period of grace the policy shall continue in full force, but if during the grace period the policy becomes a claim, then any overdue premiums may be deducted from any cash payment which may be due under the policy.
Structure Code of Alabama
Chapter 17 - Burial Insurance Policies.
Section 27-17-1 - Applicability of Chapter; "Burial Insurance" Defined.
Section 27-17-2 - Policy Provisions - Generally.
Section 27-17-3 - Policy Provisions - Grace Period.
Section 27-17-4 - Policy Provisions - Entire Contract; Representations.
Section 27-17-5 - Policy Provisions - Incontestability.
Section 27-17-6 - Policy Provisions - Reinstatement.
Section 27-17-7 - Policy Provisions - Authorized Funeral Director or Monument Dealer.
Section 27-17-8 - Policy Provisions - Furnishing of Merchandise and Services - Generally.
Section 27-17-10 - Policy Provisions - Beneficiary.
Section 27-17-11 - Policy Provisions - Payment of Cash Benefits.
Section 27-17-12 - Policy Provisions - Waiver, etc., of Policy Terms or Conditions.
Section 27-17-13 - Policy Provisions - Nonforfeiture Benefits and Cash Surrender Values.
Section 27-17-14 - Policy Provisions - Title.
Section 27-17-15 - Applicability of Other Provisions to Chapter.