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 this Policy's face page. 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: (1) on any premium due date after this Policy has been in force for thirty-six (36) months; or (2) when the extent of coverage is changed by amendment; or (3) on any premium due date on or after this Policy has been in force of 12 months if the entire group’s Amount of Insurance or number of Insureds (excluding Dependents) changes by 25% or more from such group’s entire Amount of Insurance or number of Insureds on the Policy’s Effective Date. We will not change the premium rates due to (1) above more than once in any 12 month period. We will tell you in writing at least 31 days before the date of a change due to (1) or (3) above. Premium increases due to the Insured entering into a higher age bracket will occur on the January 1st coinciding with or next following the Insured Person's last birthday. For purposes of determining premium under this Policy, a Dependent spouse's age will be considered to be the same as the Insured Person’s age. 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-9537-13-0118 Page 13.0