An individual life insurance policy delivered in Hawaii must generally provide a grace period of:

C. 30 days is correct. Hawaiʻi requires an individual life insurance policy to contain a statutory grace-period provision . Under HRS §431:10D-102, the policy must allow a grace period of thirty days , during which the life insurance remains in full force despite the fact that a premium has become due and has not yet been paid. The current Hawaiʻi Life Producer examination outline specifically identifies the grace period among the required individual life policy provisions.

If the insured dies during the grace period before paying the overdue premium, the insurer does not simply deny the death claim for nonpayment. Instead, the insurer may deduct the overdue premium from the amount otherwise payable under the policy.

The grace period must be distinguished from the free-look period . A free look applies after delivery of a newly issued policy and permits the owner to return it within the statutory review period. A grace period applies after an existing policy premium becomes overdue and prevents immediate lapse.

Ten and twenty days are below Hawaiʻi's required period. Sixty days is not required by the individual life standard provision.

Reference topics: HRS §431:10D-102(a)(1); Grace Period; Premium Payment; Policy Lapse; Standard Life Policy Provisions.

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