Non-payment of Premium

Section 128.340  Non-payment of Premium a)         For initial coverage, the Veteran must pay the first monthly premium by the due date to begin coverage for the Veteran and spouse.  For subsequent months, veterans will have a grace period of one month following the month in which the premium was due to pay the premium. b)         Failure to pay the full monthly premium by the last day of the grace period will result in termination of coverage. c)         Partial premium payments will not be refunded. d)         When termination of coverage is recorded by the 10 th day of the month, it will be effective the first day of the following month.  When termination of coverage is recorded after the 10 th day of the month, it will be effective no later than the first day of the second month following.