Common use of Premium Refunds Clause in Contracts

Premium Refunds. If one or more of the premiums paid include charges for an Employee [and or Dependent] whose coverage has ended before the due date of that premium, any refund of premium will depend on whether the Employee contributed toward the premium payment or whether it was paid in full by the Contractholder. If the Employee contributed toward the premium payment, [Carrier] will not refund the premium and coverage will continue in force through the end of the period for which premium has been contributed by the Employee. If the premium was paid in full by the Contractholder, any refund of premium will depend on whether claims were incurred during the period of no more than two months for which refund is requested. If no claims have been incurred [Carrier] will refund premiums paid for a maximum of two months prior to the date [Carrier] receives written notice from the Contractholder that the Employee’s [and or Dependent’s] coverage has ended. If claims have been incurred during the period prior to [Carrier’s] receipt of written notice that the Employee [and Dependent’s] coverage has ended, [Carrier] shall not be required to refund premium to the Contractholder. PAYMENT OF PREMIUMS - GRACE PERIOD Premiums are to be paid by the Contractholder to [Us] [[XYZ] for remittance to [Us]]. [Note to carriers: Use the XYZ variable text for SHOP policies where premium must be paid to the SHOP-designated entity. Include the appropriate name at the XYZ variable.] Each may be paid at [Our] [XYZ’s] office [or to one of our authorized agents.] A premium payment is due on each premium due date stated on the first page of this Contract. The Contractholder may pay each premium other than the first within 31 days of the premium due date without being charged interest. Those days are known as the grace period. [The Contractholder is liable to pay premiums for the time this Contract is in force.] [Note to carriers: include the previous sentence regarding liability for premiums for contracts issued outside the SHOP] [If the premium is not paid by the end of the grace period the Contract will terminate as of the paid-to-date.] [Note to carriers: include the previous sentence regarding termination as of the paid-to-date for contracts issued inside the SHOP] [REINSTATEMENT If the premium has not been paid before the end of the grace period, this Contract automatically terminates as of the last day of the grace period. The Contractholder may make written request to Us that the Contract be reinstated. If We accept the request for reinstatement, the Contractholder must pay all unpaid premiums back to the date premium was last paid. Such payment is subject to [the payment of the reinstatement fee as established by Us.] [an interest charge, determined as a percentage of the unpaid amount. The percentage will be determined by Us but will not be more than the maximum percentage allowed by law.] ] PREMIUM RATE CHANGES The Premium rates in effect on the Effective Date are shown in the Premium Rates and Provisions section of the Contract. We have the right to prospectively change Premium rates as of any of these dates: any Premium Due Date; any date that an Employer becomes, or ceases to be, an Affiliated Company. any date that the extent or nature of the risk under the Contract is changed:

Premium Refunds. If one or more of the premiums paid include charges for an Employee [and or Dependent] whose coverage has ended before the due date of that premium, any refund of premium will depend on whether the Employee contributed toward the premium payment or whether it was paid in full by the Contractholder. If the Employee contributed toward the premium payment, [Carrier] will not refund the premium and coverage will continue in force through the end of the period for which premium has been contributed by the Employee. If the premium was paid in full by the Contractholder, any refund of premium will depend on whether claims were incurred during the period of no more than two months for which refund is requested. If no claims have been incurred [Carrier] will refund premiums paid for a maximum of two months prior to the date [Carrier] receives written notice from the Contractholder that the Employee’s [and or Dependent’s] coverage has ended. If claims have been incurred during the period prior to [Carrier’s] receipt of written notice that the Employee [and Dependent’s] coverage has ended, [Carrier] shall not be required to refund premium to the Contractholder. PAYMENT OF PREMIUMS - GRACE PERIOD Premiums are to be paid by the Contractholder to [Us] [[XYZ] for remittance to [Us]]. [Note to carriers: Use the XYZ variable text for SHOP policies where premium must be paid to the SHOP-designated entity. Include the appropriate name at the XYZ variable.] Each may be paid at [Our] [XYZ’s] office [or to one of our authorized agents.] A premium payment is They are due on each premium due date Premium Due Date stated on the first page of this the Contract. The Contractholder may pay each premium Premium other than the first within 31 days of the premium due date without being charged interestPremium Due Date. Those days are known as the grace period. [The Contractholder is liable to pay premiums for Premiums to Us from the time this first day the Contract is in force.] [Note to carriers: include the previous sentence regarding liability for premiums for contracts issued outside the SHOP] [If the premium is not paid by the end of the grace period the Contract will terminate as of the paid-to-date.] [Note to carriers: include the previous sentence regarding termination as of the paid-to-date for contracts issued inside the SHOP] force [REINSTATEMENT If the premium has not been paid before the end of the grace period, this Contract automatically terminates as of the last day of the grace period. The Contractholder may make written request to Us that the Contract be reinstated. If We accept the request for reinstatement, the Contractholder must pay all unpaid premiums back to the date premium was last paid. Such payment is subject to [the payment of the reinstatement fee as established by Us.] [an interest charge, determined as a percentage of the unpaid amount. The percentage will be determined by Us but will not be more than the maximum percentage allowed by law.] ] PREMIUM RATE CHANGES The Premium rates in effect on the Effective Date are shown in the Premium Rates and Provisions section of the Contract. We have the right to prospectively change Premium rates as of any of these dates: any Premium Due Date; any date that an Employer becomes, or ceases to be, an Affiliated Company. any date that the extent or nature of the risk under the Contract is changed:

Premium Refunds. If one or more of the premiums paid include charges for an Employee [and or Dependent] whose coverage has ended before the due date of that premium, any refund of premium will depend on whether the Employee contributed toward the premium payment or whether it was paid in full by the Contractholder. If the Employee contributed toward the premium payment, [Carrier] will not refund the premium and coverage will continue in force through the end of the period for which premium has been contributed by the Employee. If the premium was paid in full by the Contractholder, any refund of premium will depend on whether claims were incurred during the period of no more than two months for which refund is requested. If no claims have been incurred [Carrier] will refund premiums paid for a maximum of two months prior to the date [Carrier] receives written notice from the Contractholder that the Employee’s [and or Dependent’s] coverage has ended. If claims have been incurred during the period prior to [Carrier’s] receipt of written notice that the Employee [and Dependent’s] coverage has ended, [Carrier] shall not be required to refund premium to the Contractholder. PAYMENT OF PREMIUMS - GRACE PERIOD Premiums are to be paid by the Contractholder to [Us] [[XYZ] for remittance to [Us]]. [Note to carriers: Use the XYZ variable text for SHOP policies where premium must be paid to the SHOP-designated entity. Include the appropriate name at the XYZ variable.] Each may be paid at [Our] [XYZ’s] office [or to one of our authorized agents.] A premium payment is ]. They are due on each premium due date Premium Due Date stated on the first page of this the Contract. The Contractholder may pay each premium Premium other than the first within 31 days of the premium due date without being charged interestPremium Due Date. Those days are known as the grace period. [The Contractholder is liable to pay premiums for Premiums from the time this first day the Contract is in force.] [Note to carriers: include the previous sentence regarding liability for premiums for contracts issued outside the SHOP] [If the premium is not paid by the end of the grace period the Contract will terminate as of the paid-to-date.] [Note to carriers: include the previous sentence regarding termination as of the paid-to-date for contracts issued inside the SHOP] force [REINSTATEMENT If the premium has not been paid before the end of the grace period, this Contract automatically terminates as of the last day of the grace period. The Contractholder may make written request to Us that the Contract be reinstated. If We accept the request for reinstatement, the Contractholder must pay all unpaid premiums back to the date premium was last paid. Such payment is subject to [the payment of the reinstatement fee as established by Us.] [an interest charge, determined as a percentage of the unpaid amount. The percentage will be determined by Us but will not be more than the maximum percentage allowed by law.] ] PREMIUM RATE CHANGES The Premium rates in effect on the Effective Date are shown in the Premium Rates and Provisions section of the Contract. We have the right to prospectively change Premium rates as of any of these dates: any Premium Due Date; any date that an Employer becomes, or ceases to be, an Affiliated Company. any date that the extent or nature of the risk under the Contract is changed:

Premium Refunds. If one or more of the premiums paid include charges for an Employee [and or Dependent] whose coverage has ended before the due date of that premium, any refund of premium will depend on whether the Employee contributed toward the premium payment or whether it was paid in full by the Contractholder. If the Employee contributed toward the premium payment, [Carrier] will not refund the premium and coverage will continue in force through the end of the period for which premium has been contributed by the Employee. If the premium was paid in full by the Contractholder, any refund of premium will depend on whether claims were incurred during the period of no more than two months for which refund is requested. If no claims have been incurred [Carrier] will refund premiums paid for a maximum of two months prior to the date [Carrier] receives written notice from the Contractholder that the Employee’s [and or Dependent’s] coverage has ended. If claims have been incurred during the period prior to [Carrier’s] receipt of written notice that the Employee [and Dependent’s] coverage has ended, [Carrier] shall not be required to refund premium to the Contractholder. PAYMENT OF PREMIUMS - GRACE PERIOD Premiums are to be paid by the Contractholder to [Us] [[XYZ] for remittance to [Us]]. [Note to carriers: Use the XYZ variable text for SHOP policies where premium must be paid to the SHOP-designated entity. Include the appropriate name at the XYZ variable.] Each may be paid at [Our] [XYZ’s] office [or to one of our authorized agents.] A premium payment is due on each premium due date stated on the first page of this Contract. The Contractholder may pay each premium other than the first within 31 days of the premium due date without being charged interest. Those days are known as the grace period. [The Contractholder is liable to pay premiums for the time this Contract is in force.] [Note to carriers: include the previous sentence regarding liability for premiums for contracts issued outside the SHOP] [If the premium is not paid by the end of the grace period the Contract will terminate as of the paid-to-date.] [Note to carriers: include the previous sentence regarding termination as of the paid-to-date for contracts issued inside the SHOP] [REINSTATEMENT If the premium has not been paid before the end of the grace period, this Contract automatically terminates as of the last day of the grace period. The Contractholder may make written request to Us that the Contract be reinstated. If We accept the request for reinstatement, the Contractholder must pay all unpaid premiums back to the date premium was last paid. Such payment is subject to [the payment of the reinstatement fee as established by Us.] [an interest charge, determined as a percentage of the unpaid amount. The percentage will be determined by Us but will not be more than the maximum percentage allowed by law.] ] PREMIUM RATE CHANGES The Premium rates in effect on the Effective Date are shown in the Premium Rates and Provisions section of the Contract. We have the right to prospectively change Premium rates as of any of these dates: any Premium Due Date; any date that an Employer becomes, or ceases to be, an Affiliated Company. any date that the extent or nature of the risk under the Contract is changed:

Premium Refunds. If one or more of the premiums paid include charges for an Employee [and or Dependent] whose coverage has ended before the due date of that premium, any refund of premium will depend on whether the Employee contributed toward the premium payment or whether it was paid in full by the Contractholder. If the Employee contributed toward the premium payment, [Carrier] will not refund the premium and coverage will continue in force through the end of the period for which premium has been contributed by the Employee. If the premium was paid in full by the Contractholder, any refund of premium will depend on whether claims were incurred during the period of no more than two months for which refund is requested. If no claims have been incurred [Carrier] will refund premiums paid for a maximum of two months prior to the date [Carrier] receives written notice from the Contractholder that the Employee’s [and or Dependent’s] coverage has ended. If claims have been incurred during the period prior to [Carrier’s] receipt of written notice that the Employee [and Dependent’s] coverage has ended, [Carrier] shall not be required to refund premium to the Contractholder. PAYMENT OF PREMIUMS - GRACE PERIOD Premiums are to be paid by the Contractholder to [Us] [[XYZ] for remittance to [Us]]. [Note to carriers: Use the XYZ variable text for SHOP policies where premium must be paid to the SHOP-designated entity. Include the appropriate name at the XYZ variable.] Each may be paid at [Our] [XYZ’s] office [or to one of our authorized agents.] A premium payment is They are due on each premium due date Premium Due Date stated on the first page of this the Contract. The Contractholder may pay each premium Premium other than the first within 31 days of the premium due date without being charged interestPremium Due Date. Those days are known as the grace period. [The Contractholder is liable to pay premiums for Premiums to Us from the time this first day the Contract is in force.] [Note to carriers: include the previous sentence regarding liability for premiums for contracts issued outside the SHOP] [If the premium is not paid by the end of the grace period the Contract will terminate as of the paid-to-date.] [Note to carriers: include the previous sentence regarding termination as of the paid-to-date for contracts issued inside the SHOP] force [REINSTATEMENT If the premium has not been paid before the end of the grace period, this Contract automatically terminates as of the last day of the grace period. The Contractholder may make written request to Us that the Contract be reinstated. If We accept the request for reinstatement, the Contractholder must pay all unpaid premiums back to the date premium was last paid. Such payment is subject to [the payment of the reinstatement fee as established by Us.] [an interest charge, determined as a percentage of the unpaid amount. The percentage will be determined by Us but will not be more than the maximum percentage allowed by law.] ] PREMIUM RATE CHANGES The Premium rates in effect on the Effective Date are shown in the Premium Rates and Provisions section of the Contract. We have the right to prospectively change Premium rates as of any of these dates: any Premium Due Date; any date that an Employer becomes, or ceases to be, an Affiliated Company. any date that the extent or nature of the risk under the Contract is changed: