Common use of Policy Premium Clause in Contracts

Policy Premium. Your Policy Schedule shows the annual premium, the premium paying mode, the installment premium, and its due dates. Subject to the Policy Discontinuance provision, we must receive installment premiums when due in order for this contract to be valid and remain in force. The responsibility of installment premium payment shall be upon the Policyholder. The below mentioned benefits are payable if your Policy is in force.

Policy Premium. Your Policy Schedule shows the annual premium, the rider premium, the premium paying term, premium paying mode, the installment premium, premium and its due dates. Subject to the Policy Premium Discontinuance provision, we must receive installment premiums Installment Premiums when due in order for this contract to be valid and remain in force. The responsibility of installment premium payment shall be upon the Policyholdereffect. The below mentioned benefits are payable if your policy is still in effect at the time the benefit is payable and for its full value (not paid-up). The benefits in this section will be altered if and when your policy is made paid-up as per the Policy is in forcePaid-Up provision.