Okla. Stat. tit. 36, § 36-4017: Grace period; annuities

In an annuity or pure endowment contract, other than a

reversionary, survivorship or group annuity, there shall be a

provision that there shall be a period of grace of one (1) month,

but not less than thirty (30) days, within which any stipulated

payment to the insurer falling due after the first may be made,

subject at the option of the insurer to an interest charge thereon

at a rate to be specified in the contract but not exceeding six

percent (6%) per annum for the number of days of grace elapsing

before such payment, during which period of grace the contract shall

continue in full force; but in case a claim arises under the

contract on account of death prior to expiration of the period of

grace before the overdue payment to the insurer or the deferred

payments of the current contract year, if any, are made, the amount

of such payments, with interest on any overdue payments, may be

deducted from any amount payable under the contract in settlement.