Policy Premium. The Master Policyholder shall pay all installment or annual premium as calculated by ABSLI for all the lives insured, on each Premium Due Date or on policy effective date. ABSLI will not accept part/short premium on any occasion or for any reason. The Master Policyholder shall pay the premium for new Members on each Monthly Processing Date or shall keep an Advance Deposit with us. Subject to the Policy Discontinuance provision, we must receive policy premiums when due in order for the Member Coverage to remain in effect.
Appears in 2 contracts
Sources: Group Income Replacement Plan, Group Income Replacement Plan