What is the standard grace period for a life insurance policy sold in Maryland?

The standard grace period for a life insurance policy sold in Maryland is indeed 30 days. This grace period is a crucial provision that allows policyholders to make late premium payments without risking the lapse of their coverage. If a policyholder fails to pay the premium by the due date, the 30-day grace period provides them additional time to make that payment while still keeping their life insurance policy in force. During this time, the insurance company cannot cancel the policy, ensuring that the insured person remains covered as long as payment is made within the grace period. This provision is designed to offer policyholders some flexibility and help prevent unintentional lapses in coverage.