{"data":{"id":"us-ky/krs-304.15-060","jurisdiction":"us-ky","citation":"KRS 304.15-060","heading":"Grace period.","body":"There shall be a provision that a grace period of thirty (30) days, or, at the option of the\ninsurer, of one (1) month of not less than thirty (30) days, or of four (4) weeks in the case\nof industrial life insurance policies the premiums for which are paya ble more frequently\nthan monthly, shall be allowed within which the payment of any premium after the first\nmay be made, during which period of grace the policy shall continue in full force. The\ninsurer may impose an interest charge for the number of days of grace elapsing before the\npayment of the premium, and, whether or not such interest charge is imposed, if a claim\narises under the policy during such period of grace, the amount of any premium due or\noverdue, together with interest and any deferred insta llment of the annual premium, may\nbe deducted from the policy proceeds. The grace period shall date from the premium due\ndate specified in the policy.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=17201","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:44Z","sha256":"59f23e1259ffcab9006be10996bbb771658a22d0943dbb58de0fdcd352832567","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.15-050","next":"us-ky/krs-304.15-070"},"notice":"GroundRules: Original legal text. Not legal advice."}