PREMIUMS PREMIUM RATES: The premium due is based on the coverage requested. Premium rates are based on the age attained on the Premium due date. We have the right to change the premium rates. We will give written notice of our intention to change such rates to the Policyholder at least 31 days prior to the effective date of the rate change. Premium increases due to you or your Insured Dependent spouse entering into a higher age bracket will occur on the January 1st coinciding with or next following your last birthday. For purposes of determining premium under the Policy, a Dependent spouse's age will be considered to be the same age as your age. LRS-9538-12-0118 Page 12.0