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Life Settlement
Educational Information
Welcome Funds has compiled every term, phrase & definition related to life settlements. Have more questions? Call us toll-free at 1-877-227-4484 or complete our Quick Online Qualifier to determine your eligibility.

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DEFINITION OF GRACE PERIOD

The period of time past the premium payment due date wherein the policy owner is generally given additional time to provide payment without the policy lapsing. In life insurance policies that accumulate account value, the policy would only enter a grace period when there is insufficient account value to fund the cost of insurance plus any additional expense charges.

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