Maryland Statutes
Subtitle 2 - Life Insurance Policy Provisions
Section 16-202 - Grace Period

(a)    (1)    Each policy of life insurance shall contain a provision that a grace period shall be allowed within which the payment of any premium after the first may be made.
        (2)    The grace period shall be:
            (i)    30 days;
            (ii)    at the option of the insurer, 1 month of not less than 30 days; or
            (iii)    4 weeks, for a policy of industrial life insurance with premiums payable more frequently than monthly.
    (b)    The policy continues in full force during the grace period.
    (c)    If a claim arises under the policy during the grace period, the amount of any premium due or overdue may be deducted from the policy proceeds.

Structure Maryland Statutes