Common use of Termination for Non-Payment of Premium Clause in Contracts

Termination for Non-Payment of Premium. If the payment received does not pay the Aggregate Premium, plus any other due charges in full, the Insurance Company has the discretionary authority to terminate the Policy, or place an administrative hold on the payment of Policy benefits. A payment of less than the full amount due will be deemed non- payment. If the Group has access to pharmacy benefits through the Insurance Company’s pharmacy benefit manager, and its Members incur claims after the termination date of Coverage, the Group must reimburse the Insurance Company for the cost of these services.

Termination for Non-Payment of Premium. If the payment received does not pay the Aggregate Premium, plus any other due charges in full, the Insurance Company Plan has the discretionary authority to terminate the PolicyGroup’s Coverage, or place an administrative hold on the payment of Policy benefitsGroup. A payment of less than the full amount due will be deemed non- payment. [If the Group has access to pharmacy benefits through the Insurance CompanyPlan’s pharmacy benefit manager, and its Members incur claims after the termination date of Coverage, the Group must reimburse the Insurance Company Plan for the cost of these services.]