Which of the following is the purpose of Grace Period?
1
It is a Period, within which, Policy-Holder may cancel the Policy, if He or She Does Not Like the Same.
2
It grants the Policy Holder, An Additional Time, to Pay His or Her Premium.
3
It provides a Period, within which, Policy Holder must raise a Complaint, in Case of Any Grievance.
4
It provides a Period, after which, Policy Holder must Pay His or Her Over-Due Premium.
5
Both 1 & 2.