Common use of Failure to Make Premium Payment Clause in Contracts

Failure to Make Premium Payment. If a Contractholder fails to make payment of the monthly Premium by the Premium due date, and within the grace period, as provided in Part VI. PREMIUMS, COPAYMENTS, COINSURANCE, DEDUCTIBLES AND OTHER EXPENSES, coverage hereunder will terminate for all Members for whom such payment has not been received, on the last day of the month for which the Premium was received.

Failure to Make Premium Payment. If a Contractholder fails to make payment of the monthly Premium by the Premium due date, and within the grace periodGrace Period, as provided in Part VI. PREMIUMS, COPAYMENTS, COINSURANCE, DEDUCTIBLES AND OTHER EXPENSES, coverage hereunder will terminate for all Members for whom such payment has not been received, on the last day of the month for which the Premium was received.