Common use of Xxxxx Periods Clause in Contracts

Xxxxx Periods. After your first payment of premium, we allow a 31-calendar day grace period for premium payment. The grace period starts on the day after the due date for payment. You are covered during this grace period provided payment of premium is made by the end of the grace period. If we do not receive payment by the end of the grace period, this contract is cancelled retroactively to the last date for which coverage has been paid in full. If your coverage is terminated for nonpayment, you may not be able to obtain new coverage until the next annual open enrollment period, unless you experience a qualifying event that provides you or your dependents a right to a limited open enrollment period under this contract. The section entitled “Eligibility, Enrollment and Effective Date” in this contract explains annual open enrollment and limited open enrollment periods.