How many days may the grace period not be less than?

In Georgia, the grace period for life insurance policies is established to ensure that policyholders have a cushion of time during which they can make their premium payments without risking lapse of coverage. The law specifies that this grace period cannot be less than 7 days. This minimum period allows policyholders some flexibility in managing their finances without losing their insurance protection.

It's important to understand that while insurance companies may offer longer grace periods, the legal requirement sets a baseline that helps protect consumers from sudden policy lapses due to missed payments. This consideration is particularly significant in the life insurance context, where continuity of coverage can be crucial for the insured and their beneficiaries.