PYK Contract including Continuous Amendments

32 9.2.3.2 if the claims ratio exceeds 80% (eighty percent) in respect of all Policyholders. 9.2.4 The Insurer shall, following the outcome of the review mentioned above, be entitled to change the Premium with effect from the date as specified by the Insurer, by giving 31 (thirty-one) days prior written notice to the Policyholder, subject at all times to the Applicable Laws. 9.3 Non-payment of Premiums and Forgiveness Rules 9.3.1 In the event of non-payment of a Premium of a Policyholder referred to in clause 9.1.5 of Part I, no Benefits shall be paid in respect of such Policyholder unless - 9.3.1.1 the requirements of claus e 8.2 of this Part I are met; or 9.3.1.2 the Forgiveness Rules as set out in Annexe E.5 can be applied in respect of the Missed Premium(s). 9.3.2 If the requirements set out in claus e 9.3.1 are not met, then no Benefits will be paid by the Insurer in respect of the Policyholder upon the happening of an Insured Event. 10. Exclusions and limitations All exclusions and limitations applicable to the Policies are set out in Part II, Part III and Part V 54 , respectively. 11. Waiting Periods 11.1 The Waiting Periods in terms of the Policies, if applicable, are as set out in Part II, Part III and Part V 55 b elow. 11.2 As provided for in clause 8.2 of this Part I, payment of Benefits will always depend on whether or not the applicable Waiting Period in terms of the Policies has ended. 54 Amended with effect from 1 April 2023. 55 Amended with effect from 1 April 2023.