Which of the following statements regarding insurance premiums is false?

The statement indicating that cash is required for all premiums paid in the grace period is false. During the grace period, policyholders are usually allowed to pay their premiums using various acceptable methods, which often include checks and electronic payments, not strictly cash. The grace period is specifically designed to provide policyholders with additional time to make their payments without risking policy cancellation, and insurers typically accommodate multiple forms of payment during this time.

In contrast, the other statements are true: premiums can be paid through various means like checks or bank transfers, they can vary based on the type of insurance policy chosen (for example, term vs. whole life), and premiums can be structured to be paid annually, semi-annually, quarterly, or monthly, although annual payments are often the most common.