Alabama § 27-15-3 - Life Insurance Policy Provisions - Grace Period.
Full text of Alabama Code of Alabama § 27-15-3 — Life Insurance Policy Provisions - Grace Period., with citation guidance and answers to common questions.
§ 27-15-3. Life Insurance Policy Provisions - Grace Period.
There shall be a provision that a grace period of 30 days or, at the option of the insurer, of one month of not less than 30 days shall be allowed within which the payment of any premium after the first may be made, during which period of grace the policy shall continue in full force; but if a claim arises under the policy during such period of grace, the amount of any premium due or overdue may be deducted from the policy proceeds.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 27-15-3
What does Code of Alabama § 27-15-3 cover?
Section 27-15-3 ("Life Insurance Policy Provisions - Grace Period.") is part of the Code of Alabama, the codified statutory law of Alabama. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alabama § 27-15-3?
A common citation format is "Code of Alabama § 27-15-3" (Alabama). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alabama law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alabama official source linked on this page or consult a licensed Alabama attorney.
How does Alabama § 27-15-3 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alabama can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alabama.