A "grace period" is a certain amount of extra time given before something is expected or required to be done. It's like a little break or extension that allows you more time without any consequences or penalties. Full definition
ND and ND terms and conditions include grace period, free look period, exclusions, etc.. (life.indiainsured.com)
Terms and conditions for TATA AIA Secure 7 Vs TATA AIA Money Back Plus consist of grace period, free look period, exclusions etc.. (life.indiainsured.com)
Life insurance companies typically offer policyholders a 30 - day grace period for payment, and some companies extend that to 60 days. (insurance.com)