PREMIUMS AND RENEWALPayment of premiumsThe initial premium is due on the date of entry into force of the policy. Premium payments that purchase additional Paid-in Value may be made at any time until the Policy transitions to Final Payout 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 Payment Status at the end of a Buyback Period during which you have not paid at least the Minimum Purchase Premium. The factors used to determine the value paid to purchase a premium are subject to change as described below and on the first page of the Policy. Premiums are payable to Us. Your program shows: Initial reward; Minimum purchase premium; Buyback period; and Maximum annual premium. Notification of Changes You must notify us of any changes to your automatic premium payment method. 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. Premium Factor Changes As stated on the first page of this Policy, we have a limited right to change the Purchase Factors used to calculate the Paid Value that a premium payment will purchase. Paid Value purchase premiums are based on your age when they become effective. Purchasing Factors will not change due to a change in your health or benefit utilization. Purchasing Factors may change based on class; and only if applicable to future purchases. Changes to Purchasing Factors may be implemented due to: - a change in benefits or coverage terms. This includes any amendments required by any law, reg...... half of the document ...... Against involuntary forfeiture You have the right to designate at least one person, other than yourself, who must receive notice of forfeiture for failure to pay the premium during a Buy-Up Period. You can change this designation at any time. To do this, you must notify us in writing. Every two (2) years we will remind you in writing of this right. Right to Reduce Minimum Premium Requirements You have the right, at any time, to reduce your planned future purchase premiums. You do not need to notify us to do this, but you must pay at least the Minimum Purchase Premium during the Buyback Period. You will not be required to provide proof of good health. The premium reduction will not result in a change to the purchasing factor used to calculate paid value additions. A reduction in the premium paid for future purchases will not affect previous amounts of paid value.