Florida Insurance Claims Adjuster License Practice Exam

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Joe pays his health insurance premium on a monthly basis. If he forgets to pay this month's premium, how long will the policy remain in force after the premium due date?

10 days
It cancels immediately
31 days
7 days

The correct answer is: 10 days

If Joe forgets to pay his health insurance premium, his policy will remain in force for 10 days after the premium due date. This is because most insurance companies have a grace period in which they will accept late payments before canceling the policy. In this case, the grace period is 10 days. Option B, canceling immediately, is incorrect as insurance companies typically have a grace period. Option C, 31 days, is incorrect as it is a longer period than the typical grace period. Option D, 7 days, is also incorrect as it is shorter than the typical grace period.