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PREMIUM PROVISIONS <br />Calculation <br />Premiums may be calculated by multiplying the rate times the applicable number of units of coverage. <br />If any insurance is added, increased or becomes effective after The Policy is in force, the premium charges will begin on <br />1) the day the coverage is effective, if it is also the first day of a policy month; or <br />2) the first day of the next policy month. <br />For insurance which is terminated, premium charges will stop as of the first day of the next policy month. <br />With respect to Dependent Life Insurance only, the premium rate per Dependent unit or per $1,000 of insurance, <br />whichever is applicable, will be based on actuarial assumptions, due to the difficulty in obtaining the ages of all <br />Dependents who are covered under this benefit. The actuarial assumptions will produce, in the opinion of The Company, <br />the same total amount of premium as would be obtained by the use of the actual ages of the Dependents covered. <br />Premiums may be calculated by any other method which both The Company and the Policyholder agree to in writing. <br />Premium Payments <br />Premium payments are due and payable in full to a place designated by The Company or, with respect to the initial <br />premium payment, premium payments may be made to an authorized agent of The Company. The pre -payment of <br />premiums for a particular period by the Policyholder is not a guarantee that The Policy will remain in force. <br />All premiums due under The Policy shall be remitted by the Policyholder or the Policyholder's designee to The Company <br />on or before the due date. <br />Form GBD-1000 A (10/08) (CA) 5 <br />55A-10 <br />