Common use of Grace Clause in Contracts

Grace. Period All premiums for this Contract are due one month in advance. However, we will allow a 30 day grace period for the payment of all premiums, except the first months. This means that, except for the first month's premium for each child, if we receive payment within the 30 day grace period, we will continue coverage under this Contract for the entire period covered by the payment. If we do not receive payment within the 30 day grace period, the coverage under this Contract will terminate as of the last day of the month of the grace period. The grace period does not apply to full-pay premium contracts.

Appears in 4 contracts

Samples: Health Plus Subscriber Contract, Health Plus Subscriber Contract, Health Plus Subscriber Contract

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