Common use of General Grace Period Clause in Contracts

General Grace Period. Following payment of the initial Premium, a Grace Period of one (1) month shall be granted for the payment of any Premium. This Grace Period shall not extend beyond the date this Contract terminates. During the one (1) month Grace Period this Contract shall continue in force. Any claims incurred and submitted during the grace period will not be considered for payment until Premium is received. If Premium is not received within the Grace Period, claims incurred during the Grace Period will be denied and this Contract will automatically terminate retroactive to the last paid date of Coverage.

General Grace Period. Following payment of the initial Premiumpremium, a Grace Period of one (1) month 30 days shall be granted for the payment of any Premiumpremium. This Grace Period shall not extend beyond the date this Contract terminates. During the one (1) month Grace Period this Contract shall continue in force. Any claims incurred and submitted during the grace period Grace Period will not be considered for payment until Premium premium is received. If Premium premium is not received within the Grace Period, claims incurred during the Grace Period will be denied and this Contract will automatically terminate retroactive to the last paid date of Coveragecoverage.