What is the grace period for premium payments?

The grace period for premium payments with Lincoln National Life Insurance is typically 31 days. This means that policyholders have a window of time after their premium payment due date to make a payment without any negative consequences. During this grace period, the policy remains in force, and coverage remains intact. It provides customers with a bit of flexibility if they are unable to make their premium payment on time. However, it is essential to note that if the payment is not made within the grace period, the policy may lapse, resulting in loss of coverage. Therefore, it is crucial for policyholders to make timely premium payments to avoid any disruptions in their coverage.