The correct answer is: D. If premiums are not paid within grace period.
A grace period is a period of time after a premium is due in which the premium can be paid without the policy lapsing. If the premium is not paid within the grace period, the policy will lapse and the insured will no longer be covered by the policy.
There are a few things to keep in mind about grace periods. First, the length of the grace period varies from policy to policy. Second, some policies do not have a grace period at all. Third, even if a policy has a grace period, the insured may still be subject to late payment fees or penalties.
It is important to make sure that you understand the grace period for your policy and to pay your premiums on time. If you miss a premium payment, you should contact your insurance company as soon as possible to discuss your options.