PREMIUMS AND RENEWALPayment of premiumsThe initial premium is due on the date the contract comes into force. Premium payments to earn additional paid-up value can be made at any time until the policy is converted to final paid-up status. Premium purchases during a policy year cannot exceed the maximum annual premium. Subject to the grace period provision, the policy will convert to final paid-up status at the end of an enrollment period in which you have not paid at least the minimum purchase premium. The factors used to determine the paid-up value of a purchased premium are subject to change as described below and on the first page of the policy. Premiums are payable to us. Your schedule indicates: The initial premium; Minimum purchase premium; Redemption period; and Maximum annual premium. Notify us of changes You are responsible for notifying us if an automatic premium payment method changes. You must notify us within 30 days of the effective date of the change. If payments are made by electronic funds transfer or other automatic payment methods, and payment cannot be made for any reason, we will bill you directly. Changes to Premium Factors As noted on the first page of this policy, we have a limited right to change. the purchasing factors used to calculate the paid-up value that a premium payment will purchase. Premiums for purchasing Paid-Up Value are based on your age at the time they take effect. Purchasing factors will not change due to a change in your health or benefit utilization. Buying factors may change depending on class; and only to the extent applicable to future purchases. Changes to purchasing factors may be implemented due to: A change in benefits or conditions of coverage. This includes any changes required by any law, rule...... middle of paper ...... Against involuntary forfeitureYou have the right to designate at least one person, in addition to yourself, who shall receive a notice of forfeiture for non-payment of premium during a Surrender Period. You can change this designation at any time. To do this, you must inform us in writing. Every two (2) years, we will remind you in writing of this right. Right to a reduction in minimum premiums You have the right, at any time, to reduce planned future purchase premiums. To do this, you do not need to notify us, but you must pay at least the minimum purchase premium during the purchase period. You will not be required to provide proof of good health. The premium reduction will not result in a change to the purchase factor used to calculate paid-up value additions. A reduction in the premium paid for future purchases will not impact previous amounts of paid-up value..