Common use of Monthly Premium Payment Clause in Contracts

Monthly Premium Payment. The amount of the Contractholder's initial monthly Premium is indicated on the front cover of this Contract. a. The Premium will automatically change if the Contractholder changes contractual underwriting requirements, such as moving to a different geographic area, or if the number of individuals covered under this Contract changes. We will not change your Premium because of Claims filed or due to a change in your health since becoming a Member. Renewal Premiums may be based on your original Premium, age, area of residence, tobacco use, and the type of health benefit plan you select. Additionally, the Premium may increase each year on the anniversary date due to the increase in the age of any Member. We will provide 30-day notice of any such change in Premium. b. If we accept the Premium for a Covered Dependent for a period extending beyond the date, age, or event specified for termination of such Covered Dependent, such coverage will continue during the grace period for which an identifiable Premium was accepted, unless such acceptance resulted from a misstatement of age, tobacco use or residence.

Monthly Premium Payment. The amount of the Contractholder's initial monthly Premium is indicated on the front cover of this Contract. a. The Premium will automatically change if the Contractholder changes contractual underwriting requirements, such as moving to a different geographic area, or if the number of individuals covered under this Contract changes. We will not change your Premium because of Claims filed or due to a change in your health since becoming a Member. Renewal Premiums may be based on your original Premium, age, area of residence, tobacco use, and the type of health benefit plan you select. Additionally, the Premium may increase each year on the anniversary date due to the increase in the age of any Member. We will provide 30-day notice of any such change in Premium. b. If we accept the Premium for a Covered Dependent for a period extending beyond the date, age, or event specified for termination of such Covered Dependent, such coverage will continue during the grace period Grace Period for which an identifiable Premium was accepted, unless such acceptance resulted from a misstatement of age, tobacco use or residence.