Grace Period Grace Period
Credit Card:
The period of time between the statement date and the payment due date in which no interest is charged if the balance due is paid in full and on time.
Insurance: Period of time after the due date of a life insurance policy premium, during which the policy remains in force without penalty, until premium payment is made. Most companies allow a 30-day grace period.
Insurance: Period of time after the due date of a life insurance policy premium, during which the policy remains in force without penalty, until premium payment is made. Most companies allow a 30-day grace period.