Celine has had life insurance for many years. Now that she is seriously ill she is re$-$reading the fine print on her policy. This is taking a lot of time as some of the terms are not clear since the legal language is not easy to understand. For example, what the grace period is in a life insurance policy?

Question $52$Select one:

a$.$

Age is the primary driver for the cost of life insurance, the grace period is a discounted rate on premiums from age $50$ to $65.$

b$.$

It refers to the period when the policy has lapsed and can be reinstated, typically $30$ days.

c$.$

It refers to the portion of life insurance that covers funeral expenses.

d$.$

It is the period when you are changing from one life insurance policy to another.

e$.$

Like the grace period on your credit card, you get a monthly break from paying interest.