The policyholder shall be obliged to pay the premium sums in cash, either by lump sum or in instalments.
The insurance cover shall not commence prior to the payment of the lump-sum premium or of the first instalment, except as otherwise agreed or if the circumstances of the conclusion of the contract indicate otherwise.
Failure to pay the premium instalment due gives the insurer the right to terminate the contract.
The termination notice shall be sent to the policyholder, whereby the latter shall be informed that any further delay in the payment of premium shall result, on the expiry of one month from the date of communication of the aforesaid declaration, in the termination of the insurance contract.
The insurance cover shall not commence prior to the payment of the lump-sum premium or of the first instalment, except as otherwise agreed or if the circumstances of the conclusion of the contract indicate otherwise.
Failure to pay the premium instalment due gives the insurer the right to terminate the contract.
The termination notice shall be sent to the policyholder, whereby the latter shall be informed that any further delay in the payment of premium shall result, on the expiry of one month from the date of communication of the aforesaid declaration, in the termination of the insurance contract.