PREMIUMS PREMIUM PAYMENT: All premiums are to be paid by you to us, or to an authorized agent, on or before the due date. The premium due dates are stated on the face page of this Policy. PREMIUM RATE: The premium for this insurance is based on the coverage selected. We reserve the right to adjust the premium rate on any premium due date: (1) after coverage has been in force for thirty-six (36) months; or (2) if the coverage is changed by amendment. We will not change the premium rate more than once in any 12 month period unless the coverage is changed. We will notify you in writing at least 31 days before a premium change is made due to (1) above. GRACE PERIOD: You may pay the premium up to sixty (60) days after the date it is due. This Policy stays in force during this time. If the premium is not paid during the grace period, this Policy will be cancelled at the end of the grace period. You will still owe us the premium up to the date this Policy is cancelled. LRS-9547-0318-IN Page 12.0