KRS 304.17-070: Grace period -- Cancellation.

(1) There shall be a provision as follows:

"Grace Period: A grace period of .... (insert a number not less than "7" for

weekly premium policies, "10" for monthly premium policies, and "31" for all other

policies) days will be granted for the payment of each premium falling due after the

first premium, during which grace period the policy shall continue in force."

(2) A policy in which the insurer reserves the right to refuse any renewal shall have, at

the beginning of the above provision: "Unless not less than five (5) days prior to the

premium due date the insurer has delivered to the insured, or has mailed to his last

address as shown by the records of the insurer, written notice of its intention not to

renew this policy beyond the period for which the premium has been accepted."