The correct answer is: D. One month not less than 30 days.
A grace period is a period of time after a premium is due during which the policy remains in force. During this time, the policyholder can pay the premium without penalty. If the premium is not paid within the grace period, the policy will lapse.
The standard length of a grace period is 30 days. However, some policies may have a grace period of 31 days or more. It is important to check the terms of your policy to find out the specific grace period.
If you miss a premium payment, it is important to contact your insurance company as soon as possible. They may be able to work with you to set up a payment plan or to reinstate your policy.
Here is a brief explanation of each option:
- Option A: One month not more than 30 days. This option is incorrect because it does not specify that the grace period must be at least 30 days.
- Option B: One month not less than 31 days. This option is incorrect because it does not specify that the grace period must be at most 31 days.
- Option C: One month not more than 31 days. This option is incorrect because it does not specify that the grace period must be at least 30 days.
- Option D: One month not less than 30 days. This option is correct because it specifies that the grace period must be at least 30 days.